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SOUTH  AMERICAN  HANDBOOK 


A  compilation  of  information  and    statistics  regarding  the  public 

indebtedness,  foreign  commerce  and  railway  development 

of  the  South  American  Republics 


Published  by  the 

NATIONAL  FOREIGN  TRADE  COUNCIL 

64  Stone  Street,  New  York  City 


PRICE,  TWENTY-FIVE  CENTS 


PRESERVATION 
COPY  ADDED 

lyyl  IM'HI 


Greater  prosperity  through  greater  foreign  trade." 

A/2 


NATIONAL  FOREIGN  TRADE  COUNCIL 
(1914-1915) 

The  first  National  Foreign  Trade  Convention  at  Washington, 
May  27-28,  1914,  recognized  the  need  of  a  permanent  organiza- 
tion which  should  promote  co-operation  by  the  government 
and  the  commercial,  industrial  and  financial  interests  and 
"  endeavor  to  co-ordinate  the  foreign  trade  activities  of  the 
nation,"  and  authorized  the  creation  of  the  National  Foreign 
Trade  Council  for  that  purpose.  The  Council  has  an  authorized 
maximum  membership  of  fifty  merchants,  manufacturers,  rail- 
road and  steamship  men  and  bankers,  representing  all  sections 
of  the  United  States  and  collectively  standing  for  the  general 
interest  of  all  elements  engaged  in  foreign  trade.  Non-political 
and  non-partisan,  its  function  is  investigatory  and  advisory, 
and  it  seeks  effectively  to  co-operate  with  other  organizations  in 
the  encouragement  of  sound  national  foreign  trade  policy. 
Through  its  committees  the  Council  is  constantly  investigating, 
and  from  time  to  time  publicly  reports  upon,  problems  arising 
in  oversea  commerce.  The  membership  of  the  Council  is  as 
follows : 

CHAIRMAN:  JAMES  A.  FARRELL,  President,  United  States 
Steel  Corporation,  New  York  City. 

TREASURER:  WALTER  L.  CLARK,  New  York  City. 

SECRETARY:  ROBERT  H.  PATCHIN,  New  York  City. 

JOHN  J.  ARNOLD,  Vice-President,  First  National  Bank,  Chicago 
111. 

WILLIS  H.  BOOTH,  Vice-President,  Security  Trust  &  Savings 
Bank,  Los  Angeles,  California. 

SAN  D.  CAPEN,  Business  Men's  League,  St.  Louis,  Mo. 

J.  A.  G.  CARSON,  President,  Carson  Naval  Stores  Co.,  Sa- 
vannah, Ga. 

E.  A.  S.  CLARKE,  President,  Lackawanna  Steel  Co.,  New  York 
City. 

SAMUEL  P.  COLT,  President,  United  States  Rubber  Co.,  New 
York  City.  328285 


IV 


MAURICE  COSTER,  Foreign  Manager,  Westinghouse  Elec.  & 

Manufacturing  Co.,  New  York  City. 
F.    G.    CROWELL,    Vice-President,    Hall-Baker    Grain    Co., 

Kansas  City,  Mo. 
CAPT.  ROBERT  DOLLAR,  President,  The  Robert  Dollar  Co., 

vSan  Francisco,  California. 
J.    J.    DONOVAN,   Vice-President,    Bloedel-Donovan   Lumber 

Mills,  Bellingham,  Wash. 
JOHN  F.  FITZGERALD,  Chairman,  Foreign  Trade  Committee, 

Boston  Chamber  of  Commerce,  Boston,  Mass. 
J.  ROGERS  FLANNERY,  Chairman,  Pittsburgh  Foreign  Trade 

Commission,  Pittsburgh,  Pa. 
P.  A.  S.  FRANKLIN,  Vice-President,  International  Mercantile 

Marine,  New  York  City. 
L.   S.   GOLDSTEIN,   New   Orleans  Association   of   Commerce, 

New  Orleans,  La. 

LLOYD  C.  GRISCOM,  New  York  City. 

FAIRFAX  HARRISON,  President,  Southern  Railway  Co.,  Wash- 
ington, D.  C. 
H.  G.  HERGET,  Pekin,  111. 
JAMES   J.    HILL,    Chairman,    Great    Northern   Railway   Co., 

St.  Paul,  Minn. 
HENRY   HOWARD,   Vice-President,    Merrimac   Chemical   Co., 

Boston,  Mass. 
CHARLES  E.  JENNINGS,  President,  C.  E.  Jennings  Co.,  New 

York  City. 
ALBA  B.  JOHNSON,   President,   Baldwin  Locomotive  Works, 

Philadelphia,  Pa. 
D.  W.   KEMPNER,   Galveston  Cotton  Exchange,  Galveston, 

Texas. 
CYRUS  H.   McCoRMiCK,  President,  International  Harvester 

Corporation,  Chicago,  111. 
J.  R.  Me  WANE,  President,   American   Cast    Iron   Pipe    Co., 

Birmingham,  Ala. 
CHARLES  M.  MUCHNIC,  Vice-President,  American  Locomotive 

Sales  Corporation,  New  York  City. 
BARTON  MYERS,  President,  Chamber  of  Commerce,  Norfolk, 

Va. 
M.  A.  OUDIN,  Foreign  Manager,  General  Electric  Co.,  Schenec- 

tady,  N.  Y. 
WILLIAM   PIGOTT,   President,    Seattle   Car   &   Foundry   Co., 

Seattle,  Wash. 


WELDING  RING,  Mailler  &  Quereau,  New  York  City. 

JOHN  D.  RYAN,  President,  Amalgamated  Copper  Co.,  New 
York  City. 

WILLIAM  H.  RUSSE,  President,  Russe  &  Burgess,  Inc.,  Mem- 
phis, Tenn. 

W.  L.  SAUNDERS,  Chairman  of  Board,  Ingersoll-Rand  Co., 
New  York  City. 

CHARLES  A.  SCHIEREN,  JR.,  President,  Charles  A.  Schieren  Co., 
New  York  City. 

W.  D.  SIMMONS,  President,  Simmons  Hardware  Co.,  St.  Louis, 
Mo. 

WILLARD  STRAIGHT,  J.  P.  Morgan  &  Co.,  New  York  City. 

G.  F.  SULZBERGER,  Sulzberger  Sons  &  Co.,  Chicago,  111. 

STEWART  K.  TAYLOR,  President,  The  S.  K.  Taylor  Lumber  Co., 
Mobile,  Ala. 

E.  P.  THOMAS,  President,  U.  S.  Steel  Products  Co.,  New  York 
City. 

F.  A.  VANDERLIP,  President,  National  City  Bank,  New  York 
City. 

J.    H.    WHEELWRIGHT,    President,    Consolidation    Coal    Co., 

Baltimore,  Md. 
THEO.  B.  WILCOX,  Portland  Flouring  Mills  Co.,  Portland, 

Ore. 

Office  of  the  Council 
64  Stone  Street, 
New  York  Citv. 


FOREWORD 

American  business  men  are  turning  to  South  America,  not 
only  as  a  market  for  exports  and  a  source  of  imports,  but  like- 
wise as  a  field  for  investment. 

This  has  created  a  need  for  a  compact  but  comprehensive 
compilation  of  facts  and  statistics  of  the  trade,  finance  and 
railroad  situation  in  the  ten  South  American  republics.  To 
meet  the  need  this  pamphlet  is  presented. 

The  Latin  American  Committee  of  the  National  Foreign 
Trade  Council,  appointed  last  autumn,  in  gathering  information 
which  was  later  made  the  basis  of  the  report  of  the  committee 
appointed  by  the  Secretary  of  Commerce,  and  which  is  re- 
printed herein,  found  that  no  one  of  the  publications  contain- 
ing information  with  regard  to  South  America  embodied  all 
the  information  required  to  form  the  basis  of  an  intelligent 
report. 

The  very  accurate  and  able  reports  issued  from  time  to  time 
by  the  Department  of  Commerce  do  not  give  the  details  as  to 
Government  finances,  nor  do  the  various  Brazil  and  Argentine 
or  South  American  year  books,  which  have  been  published  in 
London,  present  their  facts  in  an  entirely  satisfactory  form. 
The  publications  of  the  Pan  American  Union,  moreover,  while 
containing  much  of  the  information  desired,  failed  to  give  all 
the  data  in  any  one  thereof.  It  was,  therefore  deemed  de- 
sirable to  collate  from  the  various  sources  above  referred  to  and 
present  the  information  and  statistics  regarding  South  American 
government  finances,  railway  development  and  foreign  trade. 
This  pamphlet,  therefore,  is  a  compilation  of  the  information 
contained  in  the  reports  of  the  Department  of  Commerce,  the 
publications  of  the  Pan  American  Union,  the  South  American, 
Brazilian  and  Argentine  year  books  and  the  reports  of  the 
Council  of  Foreign  Bondholders  (British). 

The  basis  of  comparison  in  commercial  statistics  is  formed 
by  the  years  1910,  1911  and  1912,  the  latter  a  characteristic 
normal  year  in  which  the  volume  and  value  of  the  trade  of 
most  of  the  Latin-American  republics  fell  somewhat  short  of 
1913,  wherein  Latin-American  trade  established  a  high  water 


Vlll 

mark.  The  trade  of  the  year  1914  was  curtailed  both  by  the 
effect  of  a  general  commercial  depression,  preceding  the  Euro- 
pean war,  and  by  the  violent  dislocation  to  which  that  con- 
flict subjected,  after  the  first  week  in  August,  the  commerce  of 
all  neutral  nations.  The  year  1912,  therefore,  may  be  re- 
garded as  a  fair  basis  of  comparison  of  the  normal  business  con- 
ditions prevailing  in  the  several  states.  The  total  figures  of 
each  country's  exports  and  imports  for  the  year  1913  are  given 
in  a  separate  table  taken  from  the  publications  of  the  Pan- 
American  Union. 

In  presenting  the  information  in  this  form,  the  National 
Foreign  Trade  Council  is  aware  that  there  may  be  certain  errors 
in  compilation,  that  some  of  the  information  contained  herein 
is  now  out  of  date,  and  that  the  work  is  perhaps  not  as  compre- 
hensive as  might  be  desired.  It  is  hoped,  however,  that  the 
information  presented  in  this  form  may  serve  a  useful  purpose 
and  be  of  value  to  those  interested  in  the  development  of  the 
trade  of  the  United  States  with  the  various  countries  of  South 
America. 

In  addition  to  the  statistical  information  is  presented  an 
analysis,  made  by  the  National  Foreign  Trade  Council,  of  the 
first  effect  of  the  European  war  on  Latin- American  trade;  also 
the  report  of  the  Latin- American  Trade  Committee,  appointed 
by  the  Secretary  of  Commerce  of  the  United  States,  the  Hon- 
orable W.  C.  Redfield,  upon  the  development  of  systematic 
policy  necessary  for  the  extension'  of  commerce  between  the 
United  States  and  the  sister  republics. 


REPORT  OF 

LATIN-AMERICAN  TRADE  COMMITTEE 
October  2,  1914 

The  informal  conference  assembled  at  Washington  on  Sep- 
tember 10,  1914,  by  the  Secretary  of  State  and  the  Secretary  of 
Commerce  brought  together  a  number  of  diplomatic  and  con- 
sular representatives  of  republics  of  South  and  Central  America, 
and  representatives  of  American  business  and  of  commercial 
and  industrial  organizations,  including  the  Chamber  of  Com- 
merce of  the  United  States  of  America,  the  Southern  Com- 
mercial Congress,  and  the  National  Foreign  Trade  Council. 
After  a  general  discussion,  which  brought  forth  prominently 
the  commercial  needs  of  both  the  United  States  and  the  sister 
republics,  a  resolution  was  adopted  requesting  the  Secretary  of 
Commerce  to  appoint  a  general  committee  on  Latin- American 
trade  to  consist  of  the  members  of  the  Latin-American  com- 
mittee, already  appointed  by  the  National  Foreign  Trade  Council 
and  representative  men  from  various  parts  of  the  United  States. 
Secretary  Redfield  accordingly  appointed  as  members  of  the 
committee : 

JOHN  BARRETT,  Director  General  the  Pan  American  Union, 

Washington,  D.  C. 

WILLIAM  BAYNE,  president  of  the  New  York  Coffee  Ex- 
change, New  York,  N.  Y. 

W.   B.   CAMPBELL,   president  Perkins- Campbell  Co.,   Cin- 
cinnati, Ohio. 

ROBERT  DOLLAR,  president  Robert  Dollar  Co.,  San  Fran- 
cisco, Cal. 
JAMES    A.    FARRELL,    of    New    York,    chairman    National 

Foreign  Trade  Council. 
WILLIAM  A.  GASTON,  president  National  Shawmut  Bank, 

Boston,  Mass. 

J.  P.  GRACE,  president  W.  R.  Grace  &  Co.,  New  York,  N.Y. 
FAIRFAX  HARRISON,  president  Southern  Railway  Co.,  Wash- 
ington, D.  C. 


ALBA  B.  JOHNSON,  president  Baldwin  Locomotive  Works, 

Philadelphia,  Pa. 
C.    J.    OWENS,    managing    director   Southern    Commercial 

Congress,  Washington,  D.  C. 

LEWIS  W.  PARKER,  president  Parker  Cotton  Mills,  Green- 
ville, S.   C. 
WILLIAM  E.  PECK,  president  William  E.  Peck  &  Co.,  New 

York,  N.  Y. 

WILLIAM  SCHALL,  Muller,  Schall  &  Co.,  New  York,  N.  Y. 
W.    D.    SIMMONS,   president   Simmons   Hardware   Co.,    St. 

Louis,  Mo. 
WILLARD  STRAIGHT,  with  J.  P.  Morgan  &  Co.,  New  York, 

N.  Y. 
E.  P.  THOMAS,  president  United  States  Steel  Products  Co., 

New  York,  N.  Y. 

*J.  H.  WADDELL,  Hard  &  Rand,  New  York,  N.  Y. 
DANIEL  WARREN,  American  Trading  Co.,  New  York,  N.  Y. 
HARRY   A.    WHEELER,    vice   president   Union   Trust    Co., 

Chicago,  111. 
*Deceased. 

In  his  letter  of  appointment  of  members,  the  Secretary  of 
Commerce  wrote: 

"  The  enlarged  committee  will,  it  is  expected,  organize  itself  as  it  sees 
fit,  will  consult  as  may  be  required  with  the  diplomatic  and  consular 
representatives  of  Latin  America,  and  will  be  assisted  in  any  way  prac- 
ticable by  the  Departments  of  State  and  Commerce.  It  should  be  un- 
derstood, however,  that  the  committee  has  no  official  relations  with  the 
Government,  but  that  it  represents  an  effort  on  the  part  of  the  com- 
mercial and  financial  world  to  deal  in  a  practical  and  businesslike  way 
with  the  problems  of  the  business  relations  between  Latin  America  and 
the  United  States,  on  which  so  much  of  the  welfare  of  all  the  countries 
concerned  depends.  It  is  my  earnest  hope  that  much  may  be  done 
through  the  above-named  committee  of  lasting  and  general  benefit." 

The  committee  met  at  the  New  Willard  Hotel,  at  Wash- 
ington, D.  C.,  at  10:30  a.  m.,  Friday,  October  2,  1914.  The 
Secretary  of  Commerce  and  Robert  Rose,  foreign  trade  adviser 
of  the  Department  of  State,  were  present. 

James  A.  Farrell  was  elected  chairman  and  Robert  H.  Patchin, 
64  Stone  Street,  New  York  City,  secretary  of  the  committee. 

Mr.  W.  E.  Peck  presented  the  report  of  the  Latin- American 
Committee  of  the  National  Foreign  Trade  Council  as  a  basis 
for  discussion.  This  report  was  the  result  of  an  investigation 
of  Latin- American  problems  by  persons  engaged  in  that  com- 
merce. 


After  a  general  discussion  and  certain  modifications  and 
amplifications,  the  report  was  adopted  by  the  larger  committee. 
It  is  herewith  published  in  full. 

The  committee  will  proceed  to  consider  other  phases  of  the 
trade  between  the  United  States  and  the  other  Republics  of 
the  Western  Hemisphere  which  were  discussed  at  the  conference 
of  September  10. 

REPORT    AND    RECOMMENDATIONS. 

Industrial,  commercial,  and  financial  conditions  throughout 
the  world  have  been  disorganized  by  the  European  war.  The 
trade  of  the  United  States  with  Latin  America  has  been  seriously 
affected.  The  present  period  of  confusion  will,  however,  be 
succeeded  by  one  of  readjustment  and  reorganization.  Your 
committee  was  appointed  to  investigate  this  situation,  and  to 
suggest  measures  to  relieve  the  emergency  and  to  place  the 
trade  of  the  United  States  with  the  sister  Republics  on  a  per- 
manently satisfactory  and  mutually  profitable  basis. 

The  products  of  Argentina,  Brazil,  Chile,  and  Peru,  exported 
to  the  United  States  differ  each  from  the  other,  and  are  dis- 
similar in  turn  from  those  which  we  in  this  country  import 
from  Bolivia,  Colombia,  Ecuador,  Paraguay,  Uruguay,  and 
Venezuela,  from  the  Central  American  States,  and  Panama, 
from  Mexico  and  from  Cuba,  the  Dominican  Republic,  and  Haiti 
These  products  for  the  purposes  of  this  analysis,  may  be  con- 
sidered together  as  raw  materials,  just  as  the  goods  which  we 
export  to  these  countries  may  be  classified  as  manufactures. 
Mutual  advantage  for  both  the  United  States  of  America  and 
the  other  Republics  lies  in  a  wider  interchange. 

In  a  properly  comprehensive  report  the  trade  of  the  United 
States  with  each  of  the  Latin- American  Republics  should  be 
separately  considered.  We  realize  that  in  each  case  the  prob- 
lem is  different  and  demands  an  individual  solution.  In  gen- 
eral, however,  this  trade  rests  solely  on  exchange  of  commodities; 
that  it  has,  in  its  essentials,  been  barter,  with  a  settlement  of 
balances  through  London,  and  has  not  been  built  up  by  ex- 
tensive investment  of  foreign  capital  as  has  been  the  case  with 
British  and  German  trade. 

The  accompanying  report  deals  with  certain  underlying  prin- 
ciples applicable  to  our  Latin- American  trade  as  a  whole.  We 
feel  that  recognition  of  basic  facts  affords  the  only  proper  basis 
for  meeting  problems  which  while  they  differ  in  the  several 
countries  are  nevertheless  fundament  all  v  the  same. 


Your  committee  feels  that  articles  recently  appearing  in  the 
press  regarding  commercial  opportunities  in  Central  and  South 
America  have  unduly  emphasized  the  promising  aspects  thereof  , 
and  have,  in  most  instances,  failed  to  state  that  our  exporters 
already  doing  business  with  these  regions  find  that  their  sales 
have  been  decreased  rather  than  increased  owing  to  the  war. 

Your  committee  recognizes  the  present  time  as  one  when 
competition  is  less  effective  than  in  the  past  and  than  it  will  be 
in  the  future,  until  European  bankers,  merchants,  and  manu- 
facturers recover  from  the  effects  of  the  war. 

Your  committee,  moreover,  believes  that  an  opportunity  is 
now  afforded  to  place  the  trade  of  the  United  States  with  other 
American  nations  upon  a  firm  foundation,  supporting  a  more 
comprehensive  structure,  which  may  be  built  as  the  situation- 
again  more  nearly  approaches  normal. 

Your  committee  feels,  however,  that  there  is  great  danger 
that  our  merchants  and  manufacturers  unfamiliar  with  Latin- 
American  conditions  may  be  induced  by  recent  publicity  to 
undertake  ventures  in  that  field  which  not  only  will  be  unre- 
munerative  but  actually  disastrous,  and,  in  their  ultimate  re- 
sult, make  for  a  reaction  of  the  very  healthy  and  much  to  be 
desired  interest  in  foreign  trade  now  manifest  throughout  the 
United  States,  an  interest  which,  if  properly  directed,  should 
be  of  great  permanent  value. 

SOUTH    AMERICAN    TRADE    CONDITIONS. 

The  trade  of  the  principal  South  American  countries  with 
England,  Germany,  and  the  United  States  is  shown  by  the 
following  table: 

Imports  and  exports  of  the  South  American  countries  from  and  ta 
England,  Germany,  and  the  United  States  for  the  years  specified. 

Compiled  by  the  Bureau  of  Foreign  and  Domestic  Commerce,  Department  of  Commerce, 
from  official  reports  of  the  respective  countries. 


Country. 

Year 

England 

Germany. 

United  States. 

Imports. 

Exports. 

Imports. 

Exports. 

Imports. 

Exports. 

Argentina.  .  . 
Brazil  

1913 
1912 
1912 
1913 
1911 
1912 
1912 
1912 
1913 
1912 

$126,305,556 
77,509,079 
38,599,282 
7,779,616 
i  2,835,854 
1  12,575,508 
2  1,295,248 
2  7,838,878 
3,994,733 
3,528.042 

$116,154,937 
43,006,473 
55,340,706 
16,561,235 
986,148 
6,508,127 
3799 
24,376,182 
767,031 
26,044,974 

$68,815,721 
52,945,352 
33,189,070 
5,138,902 
2,385,758 
17,849,094 
2  1,500,958 
24,201,125 
2,586,986 
6,423,802 

$55,888,788 
51,856,965 
28,321,776 
2,970,857 
2,139,552 
7,860,272 
2843,459 
21,854,211 
5,563,768 
4,357,101 

$59,861,703 
48,043,322 
16,806,341 
8,541,934 
2,591,629 
1  5,638,402 
2  304,888 
27,612,037 
6,944,136 
1,787,321 

$22,096,385 
141,720,216 
24,526,811 
14,761,355 
3,190,069 
2,655,371 
2590 
2  15,832,882 
8,470,563 
152,583 

Chile       .... 
Peru.. 

Ecuador   .  .  . 
Uruguay 
Paraguay    .  . 
Colombia   .  . 
Venezuela.   . 
Bolivia  

figures  are  for  1911  and  are  taken  from  the  Almanach  de  Gotha. 

2Figures  taken  from  U.  S.  Daily  Consular  and  Trade  Reports. 

3Figures  are  for  1911  and  are  taken  from  Pan  American  Union  publication. 


The  above  figures  show  that  exports  from  Great  Britain  and 
Germany  to  South  America  considerably  exceed  imports  from 
that  region. 

This  balance  in  favor  of  Europe  may,  in  a  measure,  be  ex- 
plained by  the  fact  that  proceeds  of  loans  issued  by  the  South 
American  Governments  in  Europe  are  remitted,  not  in  cash, 
but  in  goods. 

AMERICAN  EXPORTS   CONCENTRATED. 

Our  export  trade  to  South  American  countries  particularly, 
and  to  a  lesser  degree  the  Central  American  States,  is  concen- 
trated. It  is  estimated  that  75  per  cent,  of  our  principal  ex- 
ports to  South  America  are  the  products  of  large  organizations. 
Our  principal  exports  to  the  River  Plate  may  be  roughly  stated 
to  consist  of  agricultural  machinery  and  allied  products,  steel 
products,  oil  products — kerosene,  gasoline,  etc. — and  printing 
paper  of  various  kinds.  Our  exports,  to  Brazil,  Chile,  and 
Peru  are  largely  limited  to  steel  and  oil  products,  locomotives, 
and  electrical  machinery.  Our  trade  in  cotton  cloths,  shoes, 
stockings,  wearing  apparel,  and  miscellaneous  goods  has  not 
made  up  an  important  part  of  the  total  because  of  our  un- 
willingness or  inability  to  meet  British  and  German  competition . 

Even  before  the  war  our  export  trade  to  all  Latin  America,  and 
notably  South  America,  had  begun  to  decrease  on  account  of  the 
prevailing  financial  stringency.  Our  imports,  however,  increased 
in  value,  and  the  trade  balance  adverse  to  the  United  States  for 
the  fiscal  year  1913-14  greatly  exceeded  that  of  1912-13  both  for 
all  Latin  America  and  for  South  America  alone. 

The  accompanying  table  shows  the  distribution  of  this  trade: 


Exports. 

Imports. 

1913 

1914 

1913 

1914 

Central   America,    West 
Indian  republics,  and 
Mexico  
South  America  

$177,627,892 
146,147,993 

$157,530,244 
124,539,909 

$224,685,344 
217,734,629 

$246,405,592 
222,677,075 

Total  

323,775,885 

282,070,153 

442,419,973 

469,082,667 

Trade  balance  adverse  to  the  United  States, 


1913 

1914 

In  trade   with   Central  America,   West   Indian  republics 
and  Mexico  

$47  057  452 

$88  875  348 

In  trade  with  South  America 

71  586  636 

98  137  166 

In  trade  with  all  Latin  America  

'  118,644,088 

187,012,514 

EFFECT  OF  THE  WAR  ON  SOUTH  AMERICAN  COUNTRIES. 

Since  August  1  of  this  year  the  countries  in  South  America 
whose  currency  is  not  already  on  a  gold  basis  have  experienced  a 
serious  depreciation  of  their  paper  money. 

The  export  of  copper,  tin,  nitrates,  coffee,  and  other  products 
has  been  curtailed  because  of  loss  of  the  normal  European  mar- 
kets. As  indicative  of  financial  conditions,  bank  holidays  and 
moratoria  were  declared  at  the  outbreak  of  hostilities,  which  were 
extended  in  certain  countries  from  60  to  90  days.  The  effect  has 
been  damaging  to  American  exporters,  as,  under  such  circum- 
stances, drafts  due  in  August  will  not  be  liquidated  until  Novem- 
ber or  December.  This  means  a  large  accumulation  of  draft 
indebtedness  never  contemplated  by  the  shipper.  Specie  pay- 
ments were  suspended. 

Collections  throughout  South  America,  therefore,  are  difficult, 
orders  are  falling  off,  and  after  our  exporters  have  completed 
their  contracts  for  this  year  there  seems  less  prospect  for  new 
business,  unless  steps  are  taken  to  relieve  the  situation. 

DIFFICULTIES  OF   SETTLEMENTS  FOR  SOUTH  AMERICAN    TRADE. 

Since  the  balance  of  our  trade  with  South  America  is  heavily 
against  the  United  States,  there  should  be  exchange  facilities 
which  would  enable  our  exporters  to  obtain  payment  from  bal- 
ances created  in  New  York  in  settlement  for  goods  imported  into 
this  country  from  South  America. 

Such  balances,  however,  are  not  maintained  in  this  country. 

The  external  debt  of  the  South  American  Republics  (Federal, 
State,  and  municipal),  amounts  approximately  to  $1,632,488,580. 
The  bulk  of  those  funds  were  borrowed  from  Great  Britain. 
South  America  therefore  invariably  has  payments  to  make  in 
London. 

The  greater  part  of  South  American  banking  business,  more- 
over, is  conducted  by  British-owned  institutions.  These  facts, 
together  with  the  facilities  offered  by  the  London  discount  mar- 
ket, have  induced  German  and  other  European-owned  banks 
trading  in  South  America  to  maintain  London  agencies.  Sterling 
credits,  therefore,  have  been  the  basis  of  South  American  trade. 

Our  exports  to  and  imports  from  Latin- America  are  shipped 
direct.  They  are,  however  (almost  exclusively  in  South  Ameri- 
can trade,  and  largely  in  Central  American  trade),  paid  for  in 
sterling  bills  of  exchange. 


United  States  exporters  have,  in  the  past,  converted  their 
dollars  into  sterling  at  the  rate  of  the  day,  drawing  against  their 
South  American  customers  at  90  days  sight,  payable  in  90  days 
bills  on  London.  Importers  have  accepted  90  days  sterling  bills, 
which  they  have  liquidated  at  the  current  rate  of  exchange. 
This  has  necessitated  the  conversion  of  dollars  into  sterling  in  the 
United  States,  and  a  reconversion  in  South  America  from  sterling 
into  the  currency  of  the  buying  country. 

Thus,  although  the  balance  of  the  South  American  trade  of  the 
United  States  has  been  increasingly  heavy  against  this  country, 
we  do  not  make  settlement  direct.  We  have  been  obliged,  either 
by  the  shipment  of  gold  or  goods,  to  settle  this  adverse  balance 
by  remitting  to  England  either  gold  or  goods,  to  meet  interest 
charges  on  the  South  American  debt,  and  to  pay  for  goods  pur- 
chased in  Europe  by  the  South  American  countries. 

Recent  attempts  to  establish  direct  exchange  with  South 
America  have  not  been  successful  in  relieving  the  trade  congestion 
incident  to  the  dislocation  of  London  exchange.  A  few  NewTYork 
banking  institutions  have  been  ready  to  extend  accommodation 
to  American  exporters,  but  the  credits  available  have  been  wholly 
inadequate.  This  fact,  together  with  the  difficulty  of  making 
collections  in  South  America,  has  seriously  embarrassed  our 
exporters,  while  our  importers,  finding  it  practically  impossible 
to  dispose  of  New  York  bills  to  bankers  in  South  America,  have 
been  penalized  by  the  almost  prohibitive  cost  of  London  credits. 

PRESENT  PROBLEMS. 

(1)  Because  of  the  war  the  Latin- American  countries  are  con- 
fronted by  the  necessity— 

(a)  Of  marketing  their  products  despite  the  shrinkage  of  world 
purchasing  power. 

(b)  Of  obtaining  funds  to  move  crops  and  to  continue  indispen- 
sable industrial  and  agricultural  development  normally  financed 
by  Europe. 

(2)  The  United  States  is  confronted— 

(a)  By  the  necessity  of  holding  its  normal  export  trade  with 
Latin  America. 

(b)  By  the  possibility  of  increasing  that  trade  by  filling  Latin- 
American  needs  for  merchandise  hitherto  purchased  in  Europe,, 
which  Europe  can  not  now  supply. 


The  solution  of  these  problems  depends  upon — 

(1)  Production. 

(2)  Transportation — Shipping  and  insurance. 

(3)  Financing:  (a)  Of  production,  (b)  of  transportation,  (c)  of 
settlements. 

Production  in  the  United  States  can  be  maintained  if  there  be  a 
sufficient  market  at  home  and  abroad  for  American  goods.  Pro- 
duction in  South  America  may  continue,  but  can  not  be  further 
developed  unless  financial  assistance  be  obtained. 

At  the  present  time  steamships  are  available,  and  sailing  regu- 
larly from  this  country  to  the  principal  ports  of  Latin  America 
and  from  those  ports  to  the  United  States.  Many  of  these  ves- 
sels are  unable  to  obtain  full  cargoes.  Although  only  a  limited 
number  are  under  the  United  States  flag  the  above  will  clearly 
indicate  to  exporters,  importers,  and  manufacturers  that  they 
need  not  hold  back  from  entering  the  field  on  this  account. 

Before  trade  can  resume  its  normal  course,  the  exchange  prob- 
lem must  be  solved,  either  by  the  restoration  of  old,  or  by  es- 
tablishment of  new  credit  facilities. 

NEW  CREDIT  MACHINERY  NEEDED. 

Old  methods  may  no  longer  be  serviceable  in  the  situation 
which  will  result  from  the  readjustment  following  the  war.  It 
should  now  be  possible  indeed,  in  the  mutual  interest  of  the 
Latin-American  Republics  and  ourselves,  to  create  new  credit 
machinery  to  perform  the  functions  of  the  old,  and  which  will 
at  the  same  time  rid  us,  at  least  partially  of  a  dependence  upon 
the  London  credits  and  European  financial  markets  which, though 
essential  in  the  past,  has  proved  to  be  seriously  embarrassing. 

Deprived  of  the  European  loans  with  which  their  resources 
were  being  developed,  Latin- American  countries  are  now  under- 
going a  serious  curtailment  of  industry  and  development.  The 
consequences  in  many  instances  will  be  serious,  not  only  to  these 
countries  themselves  but  also  to  the  countries  which  expected  to 
supply  the  materials. 

It  has  been  increasingly  the  practice  of  European  bankers  to 
stipulate  the  use  of  European  material  in  the  projects  which  they 
financed.  Latin- America  is  now  turning  to  the  United  States  for 
funds.  This  country  is  hardly  in  a  position  to  undertake  con- 
siderable investments  at  the  present  time,  but  industries  with  an 
already  considerable  trade  at  stake  may  well  consider  the  necessity 


of  protecting  that  trade  by  obtaining  for  their  customers  some  relief 
from  the  present  stringency.  Such  investments,  if  judiciously  made 
would  yield  an  ultimate  fair  return  and  meanwhile  provide  a  market 
for  American  materials  which  can  not  now  be  sold. 

The  question  of  creating  a  market  for  Latin- American  securi- 
ties in  the  United  States,  therefore,  is  highly  important.  The 
development  of  our  trade  with  those  countries  is  largely  depend- 
ent on  its  satisfactory  solution. 

ESTABLISHMENT  OF  COMMERCIAL  CREDITS  MOST  IMPORTANT. 

Unless  the  restriction  of  commercial  credits  be  remedied, 
however,  we  will  not  only  be  unable  to  extend  our  trade  but  we 
will  lose  a  considerable  portion  of  that  which  we  already  have. 

The  present  effort  to  secure  cooperation  of  American  bankers 
in  massing  a  gold  fund  to  satisfy  our  obligations  abroad  by 
promising  to  cause  London  exchange  again  to  approach  normal, 
will  lessen  to  the  American  importer  the  expense  of  liquidating 
in  London  his  South  American  indebtedness.  It  will  neverthe- 
less give  effect  to  the  old  alienation  of  the  selling  power  we  should 
derive  from  purchases  of  South  American  products.  Liquida- 
tion of  our  South  American  indebtedness  in  London  will  pay 
for  British  exports  to  Latin- America,  at  a  time  when  American 
merchandise,  intimidated  by  moratoria,  remains  congested  on 
our  docks.  Our  available  money  will  serve  Great  Britain's 
effort  to  capture  South  American  markets  vacated,  perforce, 
by  Germany. 

Whenever  there  is  a  great  disturbance  of  the  world's  finances, 
American  exporters  and  importers  in  South  American  trade  are 
injured,  because  of  their  dependence  on  London.  This  has 
happened  four  times  in  25  years. 

So  long  as  South  America  must  meet  interest  settlements  in 
London  by  shipment  of  goods  to  the  United  States,  under  the 
old  three-cornered  system,  our  South  American  trade  must, 
to  a  certain  degree,  depend  upon  London  exchange. 

But  in  view  of  the  facts  above  mentioned,  it  has  seemed  to 
your  committee  that  the  need  for  independence,  emphasized 
by  the  present  situation,  should  be  recognized.  We  feel  that 
an  attempt  should  now  be  made  to  evolve  some  plan  whereby 
we  might  take  advantage  of  our  large  direct  trade  with  Latin- 
America  to  make  a  market  for  bills  drawn  in  dollars,  and  es- 
tablish a  direct  exchange,  not  with  the  view  to  eliminating  ster- 


ling  credits  now  or  later,  but  in  order  to  provide  an  exchange 
channel  which  will  supplement,  offset,  or  compete  with  Lon- 
don, and  be  available  in  an  emergency  when  London  exchange 
is  disorganized. 

The  maintenance  of  exchange  relations  depends  on  a  credit 
machinery  and  reciprocal  balances.  This  machinery  will  par- 
tially be  provided  under  the  Federal  reserve  act,  which  permit 
American  banks  to  open  branches  abroad  and  permits  a  re- 
discount in  this  country  ot  commercial  paper,  based  on  ship- 
ments of  commodities  in  foreign  trade.  These  steps,  however, 
have  not  yet  been  effected,  and  your  committee  appreciating 
that  the  installation  of  this  machinery  may  require  consider- 
able time,  has  considered  means  for  temporary  relief. 

COOPERATIVE    EXCHANGE    AS    EMERGENCY    MEASURE. 

A  plan  for  the  establishment  of  a  Merchants'  "  Cooperative 
exchange,"  or  clearing  house  for  Latin- American  trade,  has 
been  proposed.  This,  it  has  been  suggested,  would  enable 
importers  and  exporters  of  goods  to  and  from  Latin- America 
to  watch  credits,  balances  to  be  remitted  on  certain  definite 
settling  dates.  The  chief  argument  for  such  an  institution  is 
that  it  would  bring  together  exporters  and  importers  among 
whom  there  is  now  no  cohesion.  Both  know  their  cash  re- 
quirements each  month.  If  the  exporters  require  say  $5,000,000 
to  pay  for  their  October  shipments  to  Brazil,  and  the  importers 
a  like  amount  to  pay  for  their  imports  from  Brazil,  such  an 
exchange  might  be  able  easily  to  liquidate  transactions  m  New 
York. 

The  plan,  however,  is  open  to  serious  objection  for  the  follow- 
ing reasons: 

(1)  The    necessity    and    difficulty    of    securing    the    cooperation    of    a 
sufficient  number  of  importers  and  exporters. 

(2)  The  necessity  and  difficulty  of  standardizing  credits. 

(3)  The  difficulty  of  reaching  an  agreement  as  to  the  rate  of  exchange 
between  South  American  currency  and  United  States  dollars. 

(4)  The  difficulty  due  to  the  seasonal  variations  of  shipments  of  South 
American  produce  and  the  consequent  fluctuation  in  the  demand  for 
balances  in  New  York  or  South  America. 

(5)  The  disorganized  financial  situation  in  South  America,  which  in- 
creases the  risk  in  securing  settlements  in  the  South  American  republics. 

(6)  The  necessity  of  creating  and  maintaining  an  expert  and,  there- 
fore,  expensive  organization. 


XIX 

The  difficulty  as  regards  South  America,  however,  would  still 
remain,  for  it  would  be  impossible  within  any  reasonable  time 
to  organize  in  the  principal  cities  of  South  America  sufficiently 
extensive  cooperative  associations  of  importers  and  exporters 
of  American  products. 

Standardization  of  South  American  credits,  therefore,  could 
only  be  secured  by  the  guaranty  of  American  shippers  or  im- 
porters, or  by  the  guaranty  of  the  South  American  Govern- 
ments themselves. 

Your  committee,  therefore,  after  careful  consideration,  feels 
that  the  suggested  "  cooperative  exchange"  would  not  be  prac- 
tical, although  a  powerful  banking  group  or  large  banking  in- 
stitution willing  to  assist  in  maintaining  and  developing  our 
Latin- American  trade  might  be  &ble  to  secure  and  render 
mutually  beneficial  the  organized  cooperation  of  exporters  and 
importers  in  matching  credits. 
. 

RECOMMENDATIONS. 

Your  committee,  howrever,  believes  that  the  extension  of 
credits  might  be  facilitated  and  some  relief  afforded  pending 
the  establishment  of  the  Federal  reserve  banks  if,  in  addition 
to  permitting  national  banks  which  have  signified  their  inten- 
tion to  enter  the  reserve  associations  to  accept  commercial  paper, 
action  be  taken  by  the  Federal  Reserve  Board  to  make  immedi- 
ately effective  the  rediscount  provision  of  the  new  banking 
system,  thus  assuring  early  establishment  of  a  discount  market. 

Your  committee,  while  appreciating  the  necessity  of  con- 
serving the  banking  resources  of  this  country  for  the  protection 
of  our  domestic  situation,  nevertheless  believe  that  the  cessation 
or  curtailment  of  our  trade  with  Latin  America  will  in  itself 
be  highly  injurious  to  American  industry,  just  as  we  believe  that 
the  extension  of  this  trade  would  make  for  the  prosperity  of  the 
country  ai  large,  as  well  as  of  those  directly  interested.  We 
therefore  hope  that  American  banking  institutions  may  be 
induced  to  meet  the  present  emergency,  not  by  tentative  and 
inadequate  measures,  but  by  extending  accommodation  suf- 
ficient at  least  to  assure  the  maintenance  of  our  already  es- 
tablished trade. 

EXTENSION    OF    TRADE. 

The  question  of  extending  American  commerce  with  Latin- 
America  depends  primarily,  as  does  the  problem  of  mam- 


XX 

taining  our  trade,  upon  the  establishment  of  commercial  credits, 
upon  our  ability  to  finance  Latin- American  enterprise,  purchase 
the  products  of  its  soil  and  industries  and  upon  the  perfection 
of  our  selling  machinery. 

Your  committee  has  not  attempted  to  formulate  suggestions 
as  to  the  manner  in  which  the  individual  manufacturer  should 
proceed  to  establish  a  market  for  his  products  in  South  America. 
Nor  does  it  here  dwell  upon  the  importance  of  adaptation  of 
the  product  to  the  needs  of  the  market  or  proper  packing. 
Too  high  praise  can  not  be  given  the  Government,  particularly 
the  Department  of  Commerce  under  the  Hon.  W.  C.  Redfield, 
for  its  effective  propaganda  on  these  essential  points  and  for 
its  efforts  adequately  to  assist  extension  of  our  foreign  trade. 

The  enlightened  services  of  the  Pan  America  a  Union  in  safe- 
guarding good  understanding  among  the  Republics  of  the 
Western  Hemisphere,  and  in  making  its  information  and  advice 
available  to  all  affected  by  the  commercial  problems  arising  at 
this  juncture  are  worthy  of  the  warmest  commendation. 

CAUTION    NOW    ADVISABLE. 

Your  committee  feels,  however,  that  merchants  and  manu- 
facturers now  contemplating  an  entry  into  the  Latin- American 
field  should  be  careful  to  avail  themselves  of  the  easily  acces- 
sible information  concerning  these  markets.  It  is  suggested 
that  they  should  at  the  outset  remember  that  the  cost  of  main- 
taining individual  representatives  would  probably  be  too  great 
for  any  one  of  them  to  bear  themselves.  It  is  therefore  suggested 
that  associations  consisting  of  the  smaller  firms  or  corporations 
engaged  in  kindred  lines  of  production  might  be  formed,  and 
that  either  one  or  more  representatives  should  be  sent  to  South 
America  to  look  after  the  interests  of  such  associations,  thereby 
bringing  the  cost  of  representation  within  a  reasonable  limit. 

It  has  been  suggested  that  American  manufacturers  should 
combine  to  send  to  South  America  trade  exhibits,  showing  the 
various  articles  which  they  have  for  sale.  Your  committee, 
however,  is  not  inclined  to  feel  that  such  measures  would  be 
productive  of  any  permanent  results.  It  is  suggested  instead 
that  manufacturers  and  dealers  desiring  to  place  their  products 
in  Latin  America,  and  who,  for  any  reason,  prefer  not  to  send 
their  own  representatives,  there  could  establish  connections 
with  export  houses  already  doing  business  in  those  countries 


XXI 


and  maintaining  large  branch  offices  in  the  principal  South 
American  cities  fully  equipped  with  efficient  sale  organizations 
or  who  have  established  connections,  and  in  certain  lines  of 
goods — foodstuffs,  notions,  and  miscellaneous  articles — join  in 
establishing  what  might  be  called  for  want  of  a  better  name  an 
"  American  store,"  in  certain  of  the  most  important  cities. 

Ventures  of  this,  sort,  however,  require  considerable  capital 
and  experienced  men,  and  for  the  sake  of  the  ultimate  develop- 
ment of  mutually  beneficial  commercial  relations  with  Latin- 
America  it  is  believed  that  our  merchants  and  manufacturers 
should  not  attempt  to  install  their  own  establishments  in  Latin- 
America  unless  they  are  prepared  to  meet  initial  losses  and  dis- 
appointments before  realizing  even  moderate  profits  in  what 
must  necessarily  be  a  developing,  Vat  her  than  a  ready-made, 
business. 

Your  committee  begs,  therefore,  to  summarize  the  results  of 
the  investigations  and  to  state  its  belief  that  the  present  dis- 
organization of  the  trade  of  the  United  States  with  Latin- Amer- 
ica may  best  be  remedied  and  placed  on  a  permanently  satis- 
factory basis  as  follows: 

1.  The  establishment  of  a  dollar  exchange. 

(a)  By  the  ultimate  creation  of  a  discount  market.* 

(b)  Pending  the  establishment  of  a  discount  market,  by  the 
extension  of  adequate  accommodations  by  banking  institutions, 
and   the   establishment   of   reciprocal   balances   in   the   United 
States  and  in  Latin- America  for  financing  Latin- American  trade. 

2.  Perfection  of  our  selling  machinery. 

(a)  By  furnishing  additional  support  to  commission  houses 
already  familiar  with  Latin- American  business. 

(b)  By  forming  associations  of  merchants  and  manufacturers 
to  be  jointly  represented  in  Latin- America. 

(c)  By  obtaining  information  as  to  the  possibilities  of  develop- 
ing retail  stores  in  large  La  tin- American  cities. 

*The  Federal  Reserve  system  has  since  been  put  into  operation  and 
a  discount  market  created  through  the  growth  of  transactions  in  ac- 
ceptances covering  exports  and  imports. 


ARGENTINE 


Area 1,139,196  Square  Miles 

Estimated     Population    in     1913.  .8,700,000. 
Currency — Gold  Peso   =$.965 
Paper  Peso  =  $.4246 


In  addition  to  the  external  loans  shown  in  the  table  on  Page  2, 
the  Argentine  Government  contracted  with  a  syndicate  headed 
by  the  National  City  Bank,  of  New  York  City,  for  the  issue  of 
$15,000,000.  of  one,  two  and  three  year  six  per  cent,  gold  notes. 
Five  million  dollars  of  these  notes  expire  on  December  15th,  1915, 
and  a  similar  amount  on  December  15th,  1916  and  1917,  respec- 
tively. The  notes  were  issued  at  the  following  prices : 


One  Year  Notes. . 
Two  Year  Notes. . 
Three  Year  Notes. 


100 
99^ 
99M 


DEBT 


December  1913. 


Amount 
Issued 

Amount   in 
Circulation 

Annual 
Service 

Argentine  National  Government... 
Province  of  Buenos  Aires  
City  of  Buenos  Aires  

£165,747.391 
31,973,219 
14  637  683 

£111,508,901 
29,861,481 
10  962  470 

£6,727,306 
1.594,374 
1  002  780 

Various  Provinces  

8,111,013 

7  492  665 

536  956 

Various  Municipalities  

2  945  866 

2  847  417 

179  349 

Total  Debt  

£223  415  172 

£162  672  934 

£10  040  765 

FEDERAL  GOVERNMENT  LOANS. 


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BUDGET— 1912. 


Revenue      (Approx.) £28,954,848 

Expenditures  (Approx.)    *£28,000,000 

*Of  this  sum  approximately  ^10,040,765  required  for  service  debt. 


FOREIGN  TRADE 


Countries 

1908 

1909 

1910 

1911 

1912 

Imports  from  — 
United  States.  .  . 
United  Kingdom 
Germany 

$34,351.109 
90,103,120 
36,522,425 

$41.561,415 
95,726,325 
42  996  315 

$46,724,230 
105,549,185 
58  989  375 

$50,521.020 
104,335.115 
63  557  030 

$57,057,505 
114,515,800 
61  703  550 

France  
Italy  

25,550,220 
24.041,280 

29,723,090 
25  927  720 

32,472,865 
30  663  950 

36,695.625 
28  318  865 

36,301.925 
31  350  100 

Total  imports 

263.418.690 

292,159,630 

339.458.680 

353.972.310 

371,383,595 

Exports  to  — 
United  States.  .  . 
United  Kingdom 
Germany  
France  
Belgium  

12,567,420 
75.583,350 
33.535,670 
27,901,745 
34,525,950 

25,154,450 
77,918,985 
39,905,965 
37,631,142 
39,861,060 

24,437.235 
77,965.710 
43,477,895 
36,440.050 
29,413  915 

23.449,945 
88,626.785 
41,565,455 
38,303,195 
34  378  705 

31,257,455 
117,125,290 
52,105,340 
34.790,185 
35  954  185 

Total  exports.. 

353.195,150 

383,443.255 

359,584.140 

313,333,120 

463.577.560 

IMPORTS  FOR  1912. 


Articles 

From 
United 
States 

From 
United 
Kingdom 

From 
Germany 

From 
France 

Total 
imports. 

Automobiles 

$543  930 

$430  530 

$822  315 

$2  252  835 

«K  1  cq  non 

Bagging  
Beams,  iron 

13,025 
94  440 

3,299,705 
91  035 

68.130 
1  846  070 

5,230 
495  815 

8.355.140 
q  O7fj  QRK 

Beverages,  n.  e.  s  
Binder  twine 

46,690 
2  729  950 

169,155 
10  655 

168,350 
5  835 

129,525 
8  760 

1,149,360 
2  78*1  1  3O 

Books  and  pamphlets.  .  . 
Book  paper 

30,515 
7  395 

462,520 
61  275 

58,015 
947  850 

154.900 
2  900 

1,254,810 
1  i  KA  7«f> 

Brick,  paving  
Bridge  materials  
Carriages  and  cars,  ac- 
cessories and  parts  of. 
Cement,  hydraulic  
Cheese  

8,375 
66,905 

64,550 
13.545 

98,520 
776,810 

350,550 
640,520 
15  825 

153,625 
110,240 

406,335 

258,135 
7  010 

109.400 
3.265 

389.360 
752,880 
73  890 

1,055,840 
997,670 

1,504,605 
3,989.340 
2  074  590 

Chemical    and  pharma- 
ceutical products: 
Candles,  stearin.  .  .  . 
Medicinal    prepara- 
tions 

1,700 
340  680 

272,460 
153  065 

104,675 
206  685 

9,520 
1  154  280 

1,094,570 
2  191  620 

Perfumery  
All  other 

27,550 
1  982  965 

206,740 
2  086  355 

86,690 
1  764  010 

1.043,180 
1  101  350 

1,411,500 
9  083  685 

Cigars.  .  . 

32,045 

21,605 

20  935 

8  685 

1  415  630 

Coal  
Coffee  

782,910 
585 

23,642,425 

381,320 

4  980 

7  020 

25,047,240 
1  631  615 

Cotton  and  silk  goods..  .  . 
Cotton  and  woolen  goods 
Cotton  goods,  made  up.  . 
Cotton  hose 

10,635 
75 
8,200 
750 

430,995 
682,520 
157,340 
22  000 

275,395 
303.845 
497,315 
1  101  325 

518,345 
76,075 
430,635 
223  015 

1,447,725 
251,842 
1,186,140 
1  407  220 

Cotton  laces  
Cotton  tissues: 
White  

2.810 
21,305 

559,200 
4,099,620 

415,285 
133  420 

123,525 
77  075 

1.349,000 
4  813  065 

Unbleached  (linen)  . 
Printed  

12,500 
1,605 

874,610 
2,610,395 

3,920 
460  140 

4.485 
68  935 

1,127.060 
3  693  435 

Dyed  
Color  not  specified  .  . 

9,370 
3,015 

4,377,675 
534,595 

920,095 
170,910 

244,910 
121,190 

10.315,680 
1,059.655 

IMPORTS  FOR  1912. — Continued 


Articles 

From 
United 
States 

From 
United 
Kingdom 

From 
Germany 

From 
France 

Total 
imports. 

Cotton  yarn: 
Colored  
Unbleached  
Cotton  goods,  all  other.. 
Ducks 

2,705 
70,735 
301,675 
550 

111,845 
326.310 
2,568.815 
493  goO 

129,475 
52,430 
1,064,295 
162  180 

20.195 
46,420 
619,455 
156  150 

1,003.695 
1,508.790 
6,632,860 
1  156  655 

Dyes  and  colors  
Dynamos     and    motors, 
electric  
Electric  wire  and  cable  .  . 
Furniture,  wooden  

249,550 

28,545 
102,885 
587.060 

997,635 

219,935 
1,205,515 
513,055 

722,980 

1,212,775 
1.227.695 
308,515 

199,185 

42,385 
96,465 
489,640 

2.427,250 

1,637,755 
3,087.700 
2,668,230 

Glass  and  plain  crystal.  . 
Harvesting  machines..  .  . 
Household   and    cooking 
utensils  
Iron  and  steel  wire,  gal- 
vanized : 
Smooth  — 
Up  to  No.  14  
No.  15  and  higher 
Barbed  

12,145 
1,948,165 

52.450 

638,990 
625 
635,030 

663,930 
46,200 

89,910 

249.100 
53,430 
106  320 

201,380 
14 

741,430 

1,027,250 
13,590 
137  085 

68,860 
95.940 

1,500 
465 
2  825 

1,538.850 
2,712,855 

1,210,210 

2,015,735 
75,945 
926  250 

Twisted  

3,599 

16,485 

3,410 

27 

25,300 

Iron  and  steel  wire  not 
galvanized: 
Up  to  No.  14  
No.  15  and  higher.  . 
Iron     and     steel     wire, 
plated     (with    bronze, 
copper,  nickel,  or  tin).. 
Iron  axles  and  wheels.  .  . 
Iron  bars  and  sheets.  .  .  . 
Iron,  galvanized  
Iron,  wrought,  n.  e.  s.  .  . 
Jewelry,      fine,      except 
watches  and  loose  pre- 
cious stones  
Leather    and    manufac- 
tures   

408,200 
19,645 

79 
87,685 
408,135 
1.398,165 
321,005 

15,885 
1.283,105 

16,495 
2,905 

5,750 
1.156.005 
656,150 
4,088,950 
1,156,670 

180,215 
758,510 

213.970 
15,975 

27,630 
7,750 
2,489,430 
381,955 
377,870 

769,525 
688,340 

75 
175 

307 

80.866 
24,985 
77,300 

620.660 
792,230 

720.060 
41,395 

35.605 
1.256.735 
6,288.590 
6.160.145 
2.753,025 

1,849,545 
3,766,540 

Locomotives  
Machinery,  general  

1,  119,225 

1,847,135 
2,022,795 

293,845 
2,572,365 

627 
459,975 

2,188.660 
6,939,140 

Machines,  spare  parts..  . 
Malt 

1,132,290 

684,510 

692,340 
59  385 

119,950 

2,909,925 
1  074  280 

Manufactures  of  copper, 
and  bronze,  n.  e.  s  
Manufactures    of    stone, 
earth,  glass,  etc  
Materials  for  port  works, 
n.  e.  s  , 
Materials     for    sanitary 
works,  n.  e.  s  

100,795 
170,240 
105 

402.430 
987,185 
110,280 
962,525 

281,845 
2,050,820 
66.075 
57,135 

144,120 
616,460 
14,580 
3,045 

1.073,095 
4,667,250 
204,035 
1,066,365 

Motors: 
Windmills,    with    or 
without     frame- 
work, and  pumps.  . 
Other,  various  
News  print  paper  
Oil: 
Lubricating  
Olive 

372,580 
631.820 
727.970 

1.301.930 
146,075 

13,980 
316,015 
85,595 

787,995 
3,645 

555 
85,765 
603,725 

63,980 
5,240 

6,866 
7.735 

10.815 
143,525 

393,275 
1.142,485 
1,610,380 

2,518,350 
4  748  915 

Kerosene 

2,289,115 

156 

2  289  275 

Naptha,  unrefined... 
Pine,  unplaned: 
White.  .  . 

5,495,150 
1,728,450 

126,010 
140,350 

75,895 
11,773 

43 
23,160 

5,710,755 
2,130,015 

Pitch  
Spruce 

8,078,590 
1,662,050 

3,880 
76,925 

29,170 
50,635 

30 
14,065 

8.164,720 
3  689  605 

Pipes,  iron: 
Galvanized  
Other 

229,180 
51,460 

966,955 
756,245 

83.565 
238,810 

3,205 
34  290 

1.294,550 
1  171  965 

117  730 

1  073  510 

1  191  240 

Railway  couplings,  steel. 
Railway  freight  cars.  .  .  . 
Railway  materials  
Rice: 
Unhulled 

136,585 
558,855 
132,810 

485.835 
2.650,155 
4,152,660 

30,685 

397,810 
74,190 
237.460 

2,480 
16,095 
93.345 

1.147.350 
3.812.510 
5.013,430 

286  055 

Hulled 

378 

76  860 

5  020 

2  476  215 

Sand  for  building  

115 

1  024  380 

Sardines  

516 

27,130 

26.120 

44.485 

1.031,425 

IMPORTS  FOR  1912. — Continued 


Articles 

From 
United 
States 

From 
United 
Kingdom 

From 
Germany 

From 
France 

Screws  and  nuts  
Seeds: 
Alfalfa     

170.230 

401.675 

482 

156,050 
155  145 

183,830 
73  230 

Flax  

1,020 

100 

Corn          

332 

1 

100 

Wheat 

1  175 

39 

48 

265 

Other  kinds  
Silk 

41,510 
635 

26,170 
208  055 

281,195 
428  735 

201,115 
1  287  600 

Steel  rails  
Spirits  and  cordials 

737,685 
12  070 

2,226,600 
462  545 

1,343,315 
44  365 

17,290 
1  685  810 

Sugar: 
Refined 

215 

467  710 

228  260 

Other  

1,669 

1,110,785 

1  575 

Tea                            .    .    . 

230 

306  100 

18  930 

374 

Tin  plate,  unworked.  .  .  . 
Thrashing  machines  with 
or  without  motor  
Tobacco  dip  
Tobacco,  leaf  

345,530 

1.182,175 
95,545 
378,260 

673,230 

179,385 
2,153,045 
19,495 

5 

119,385 
6,285 
82,765 

67 

97 
520 
4,615 

Tramway  materials  
Watches: 
Gold  

107.725 
2.270 

506,110 
15,420 

599,020 
64  010 

20.920 
209  035 

Other  kinds 

115,450 

26  985 

230  270 

302  665 

Wines  
Woolen  goods: 
Made  up  
Tissues,  all  wool..  .  . 
Mixed  

9.160 

4,150 
4,425 
3,245 

21,235 

235,295 
3,571,105 
2,018,030 

39.985 

586,865 
1,039,340 
441,055 

3,031,335 

504,855 
888,125 
133  225 

Yerba,  Brazilian. 

Importsbyparcel  post.etc 
All  other  articles  .  . 

3.070 
12,223,614 

609,945 
19,315  571 

839,485 
21  833  634 

944.510 

11  791  528 

Total  

57,057,505 

114,515  800 

61  703  550 

36  301  925 

Total 
imports 


1.061.980 

740.945 

1.335 

1.115 

7,630 

1,069.415 

2,341,730 

5.088.405 

3,183,410 

852.550 
1,117,385 
1,072.030 
1,036.860 

1,517,030 
2.348,005 
3,485,160 
1.668,460 

593.300 
1.395.305 
9,830,910 

1,418,170 
5.957.735 
2.799.150 
4,946,085 
3.308,795 
90,808.013 

371.383.595 


EXPORTS  FOR  1912. 


Articles. 

United 
States 

$526.120 

United 
Kingdom 

Germany 

France 

Belgium 
$739,250 

2,415 

"170 
192,775 
128,225 

Total. 

Animal        hair        and 
bristles  
Beef: 
Frozen  

$140,530 

29,249,075 
2,434,810 
6,410 
791,125 
629,145 
1,374,760 

$93,780 

'2,465 
3,791,070 

$199,585 

18,560 
2,935 

$2,037,285 

30.650,285  , 
2,434,810 
1,351,720 
1,181,020 
5,732,655 
1,419,205 
8,820,175 
21,019.281  v 
33,016,090- 
6,683,860 
982,360 
1,188,785 
1,302.320 
10.918,710^ 
5.417,480 
2,713,070 

23,974,530* 
16,680,505  v 
1,707,935 
4,667,570 
3.443,655 
7,389,155 
1.387,720 
94,410,940  . 
56,113.460  , 
116,932,979 

Chilled  

Jerked  

48.870 

Beef  extract  

Bran  and  shorts  
Butter  
Cattle  

3.070 

255,990 

Corn  
Flax 

'  403.585 
1.646.815 
8.720 

'  994,615 
'  175,010 
28,890 

8,106,865 
9,667,795 
48 
1.522,145 
238,165 
120,355 

'  336,530 
5,707,860 
1,722,597 

790 
7,487,550 
3,^78,285 
227,405 
4.840,580 
125,185 
767,445 
4,185,110 
1,073,586 
8,105,340 

4,424,545 
573,445 
1,063,080 
585,755 
132,655 
129,950 
631,535 
19,800,205 
8,842,640 
16,024,349 

95 
6,893,655 
4,068,375 
44,100 

3,430 
57,160 
1,864,255 

1,  534,  725 

7,379,580 
996,875 
1,130 
574.995 
135.215 
54,985 
442,700 
5,816,675 
16,521,995 
1,828,080 

95 

3,877,215 
1,080,005 
65,855 
184 
39,055 

631,400 
6,250 
1,031,855 

462,080 
240,350 
1,330 
135,550 
17,720 
6,894,310 

i,  '553,695 

17,337,330 
939,436 

5,967,110 
3,681,380 

'  '  920 
66,440 
546,105 
850 
2,713,070 

2,374,160 
702,245 
16,715 
476,090 

65,835 
293.765 
11,756,305 
5,370.255 
860.105 

Flour,  wheat  
Frozen  meat,  n.  e.  s... 
Goatskins  
Meat  flour 

Melted     tallow     and 
grease  
Mutton,  frozen  
Oats  
Oxhides: 
Salted  
Dried 

Preserved  meat  
Quebracho  extract..  .  . 
Quebracho  logs  
Sheepskins,  unwashed 
Whale  oil... 
Wheat  
Wool,  unwashed  
All  other  articles  

Total 

31,257,455 

117,125,290 

52,105,340 

34,790,185 

35,954,185 

463.577,560 

RAILWAYS 


The  total  length  of  the  Argentine  railways  is  21,196  miles, 
(although  300  miles  are  not  as  yet  officially  opened),  with  several 
hundred  miles  under  construction.  They  represent  a  total 
capital  of  about  $1,135,220,000,  of  which  that  owned  by 
foreign  investors  forms  88  to  90  per  cent.  British  capital  is 
heavily  predominant,  amounting  to  $967,760,000,  and  the 
management  and  equipment  of  the  roads  are  British  to  a  very 
large  degree.  French  and  Belgian  capitalists,  however,  are 
acquiring  extensive  interests,  having  now  some  $39,000,000  in 
these  roads. 

The  Argentine  Government  owns  some  3,800  miles  of  road  but 
has  heretofore  been  interested  in  new  construction  mainly  for  the 
purpose  of  opening  up  new  territory.  There  are  three  different 
gauges  in  use — the  broad,  5  feet  6  inches, — the  standard,  4  feet 
8  1/2  inches,  and  the  narrow,  1  meter  (3.28  feet). 

The  following  table  gives  the  total  mileage  owned  by  the 
Government,  and  by  private  companies. 


Railroads. 


GOVERNMENT  LINES. 

Narrow  gauge: 

Central  Northern  Ry 

Argentine  Northern  Ry 

Barranqueros-Metan 

Quimili  Northeast 

Formosa  Embarcacion 

Buenos  Aires  Provincial  (Gov 
ernment  line  from  La  Plata 

to  fifth  meridian; 

Middle  gauge: 

Eastern  Ry 

Broad  gauge: 

San  Antonio-Nahuel-Huapi.. .  . 

Puerto  Deseado  Line 

Comodoro  Rivadavia 

Total..  , 


PRIVATE      LINES. 

Broad  gauge: 
Buenos  Aires  Great  Southern.. 


Miles. 


1,731 
1,189 

127 
88 

129 


62 
81 

211 
15G 
92 


3,578 


Railroads. 


PRIVATE  LINES — Continued 

Broad  gauge — Continued. 

Central  Argentine 

Buenos  Aires  &  Pacific 

Buenos  Aires  &  Western 

Rosario  to  Puerto  Belgrano..  .  . 
Middle  gauge: 

Entre  Rios 

Argentine  Northeastern 

Buenos  Aires  Central 

La  Plata-Abasto 

Narrow  gauge: 

Cordoba  Central 

Province  of  Santa   Fe 

Province  of  Buenos  Aires 

Buenos  Aires  Midland 

Transandine 

Chubut  Central 

Rafaela  Steam  Tram 

Rosario-Mendoza 

Colonia   Ocampo   Steam  Tram, 

Total..  . 


Miles. 


3.022 

3,236 

1,779 

493 

729 

667 

167 

11 

1,203 

1,061 

790 

321 

111 

53 

51 

31 

27 


17,330 


Railroads 


Capital. 


Owned  by  British: — 

Buenos  Aires  Great  Southern. . 

Buenos  Aires  &  Pacific 

Buenos  Aires  &  Western 

Central  Argentine 

•"Central  Cordoba 


Total... 


$213,295,700 

219,848,000 

99,450,800 

192,046,700 

74,109,500 


$798,750,700 


*The  last  named  system  has  beenjformed  by  the  consolidation  of  five  separate  companie- 
and  is  now  operated  in  six  sections.     The  tendency  toward  consolidation  has  been  promis 


nent  in  recent  years  and  in  1913  the  merger  of  the  Great  Southern  and  Great  Western  was 
proposed,  and  was  being  considered  in  the  National  Assembly,  when  for  various  reasons 
the  proposal  was  withdrawn  by  the  companies  involved.  The  Farquhar  Syndicate,  a 
very  large  and  important  company  and  composed  partly  of  American  capitalists,  headed  by 
an  American,  and  owning  extensive  railroad  properties  in  Brazil,  Uruguay,  Paraguay, 
Argentina  and  Bolivia,  was  negotiating  with  the  Government  for  the  purchase  of  the 
Government  railways,  but  the  project  did  not  materialize.  This  syndicate  is  interested 
in  railway  construction  in  the  northern  part  of  Argentine. 

Railway  construction  in  Argentin3  is  the  key  to  the  develop- 
ment of  that  country  and  is  now,  as  in  the  past,  being  pushed 
forward  with  great  energy.  Some  idea  of  the  rapid  growth 
in  mileage  of  the  railways  may  be  gained  from  the  following 
table,  showing  the  increase  in  mileage  from  1890  to  1913. 


Years 

Miles 

Years. 

Miles 

1890.    . 

5  857 

1911 

18  516 

1900  

10  286 

1912 

19,684 

1905 

12  292 

1913 

21  196 

1910  

17,371 

REMARKS. — The  chief  lines  of  freight  carried  on  these  roads  are  the  natural  products  of 
the  country.  In  1912  these  products  amounted  to  22,200.000  tons  valued  at  $749.000,000, 
and  gave  the  roads  70  per  cent  of  their  gross  receipts. 


BOLIVIA 

Area 473,560  Square  Miles 

Population 2,492,377 

Currency — Bolivano  =  lOOcentavos  =  $0.389 

DEBT 


External  Debt  

£1,535,159 

Internal  Debt 

1  066  218 

Total  

£2,601,377 

FEDERAL  GOVERNMENT  OBLIGATIONS 


Year 
Issue 

Interest 

% 

Sinking 
Fund 

Liabilities. 

Amount. 
Issue 

External 
*1910 

Debt:— 

5  % 

1*  % 

Loan,  Credit  Mobilier  of  Paris,     Secured  on 

export  duty  on  mineral  and  rubber,  and  in  case 

of  deficit  on  general  revenues.      Free  of  all  Bo- 

livian Taxes  

£1,500,000 

3% 

3% 

Loan  —  (Indemnity   decreed   by   Joint  Arbi- 
tration Tribunal,  Bolivia  and  Brazil)  

35,159 

Total  External  Debt  

£1,535,159 

Internal 

Debt:-  (Ex 

elusive  of 

Rai  1  wa  y   Guarantees)  :  — 

On  June  30,  1912  — 

State  Bonds   B/3,490,285, 

Floating  Debt,  B/7,043,403— 
Total  B/10,533,688  

£    842.280 

1903 

3  % 

Treasury    Notes  (3  %)  held  by  Banca  de  la 

Nacion,    (Redeemable  by  10  %  of  Custom  re- 

1911 

8% 

ceipts  of  Depts.  of  Beni  and  Natl.  Territory)  .  . 
Veteran    Soldiers'   Pensions   (held  by  Banca 

104,000 

de  la  Nacion  (Bolivia-Chile  War)  

119,938 

Total  Internal  Debt  

£1,066,218 

Total  External  Debt 

£1,535,159 

Grand  Total           .                 

£2.601.377 

*Issued  in  Paris. 

In  January,  1909,  Messrs.  J.  P.  Morgan  &  Co.,  of  New  York, 
contracted  with  the  Bolivian  Government  for  a  6%  loan  amount- 
ing to  £500,000.  In  November,  1910,  with  the  exception  of 
approximately  £60,000.,  these  bonds  were  resold  to  the  Bolivian 
Government,  payment  therefor  being  made  out  of  the  proceeds 
of  the  Credit  Mobilier  loan  mentioned  above.  These  bonds  are 
now  held  in  the  Treasury  of  the  Bolivian  Government  and,  sub- 
ject to  certain  stipulations,  cannot  be  reissued.  Notwithstand- 
ing the  above  arrangement,  the  Bolivian  Government  is  still 
responsible  for  the  interest  and  amortization  of  these  bonds. 

BUDGET 


Revenue $8,594,000     (£1,766,495) 

Expenditures $8,627,000     (£1,773,257) 


8 


FOREIGN  TRADE 


Countries 

1900 

1905 

1911 

1912 

Imported  from  — 
United  States  
Germany  
United  Kingdom  
Chile                     

$1,787,321 
6,423,802 
3,528.041 
1  549  097 

Peru  

1  467  281 

Argentina  

1  178  346 

Belgium 

999  963 

France  

947  449 

Other  countries  

1,377,696 

Total  

$5,978,000 

$12  303  000 

$23  268  562 

$19  258  996 

Exported  to  — 
United  States  
Belgium  

152,582 
1  376  524 

France 

2  128  573 

Germany  

4  357  100 

United  Kingdom 

26  044  974 

Other  countries  

998,088 

Total 

$15  975  000 

$18  568  000 

$33  052  469 

$35  057  841 

SUPPLEMENTARY  COMPARATIVE  TABLE 


Imported    from 

1909 

1910 

1911 

1912 

United  States  
United  Kingdom 

$4,234,000 
3  260  000 

$2,142,000 
3  900  000 

$3,945,000 
4  908  000 

$1,787,000 
3  528  000 

Germany  

2,073,000 

3,296  000 

4  124  000 

6  424  000 

ARTICLES  OF  IMPORT 


Articles. 

Value. 

Articles. 

Value. 

IMPORTS. 

IMPORTS—  continued 
Mining 

$  446  881 

Animals  live: 
Cattle- 

$  302  553 

Other  and  parts  
Tools 

633,095 
225  340 

Horses  
Arms  and  ammunition  
Breadstuffs: 
Cereals,  n.  e.  s  
Pastes,  alimentary.  .    .  . 
Rice  
Wheat  flour  

482,528 
692,047 

111,462 
72,617 
194,541 
857,148 

Iron  manufactures  n.e.s.. 
Jewelry: 
Genuine      (of      precious 
metals)  
Other  
Leather  boots  and  shoes  
Medicines  prepared.. 

2.046.497 

105,702 
104,271 
155.088 
154  297 

Candles 

366  220 

86  315 

Cars  and  carriages: 
Railway  cars  
Other 

272,219 
102  944 

Paints,  colors,  and  varnishes.. 
Paper  and  manufactures  
Soap 

99.604 
386.503 
97  209 

Cement.  .  .  
Coal  and  briquets 

148,292 
674  512 

Spirits,   wines,   and   malt   li- 

Cotton     manufactures,     not 
mixed  with  other  material.  . 

1,684,088 

Beer,  cider,  and  "chicha" 
Spirituous  liquors. 

80,160 
644  226 

Earthenware,  tiles,  and  pip- 
ing of,  and  porcelain  

151,840 

Wines  
Sugar,  refined 

380.603 
1,195  665 

Explosives,  including  powder 
Fish,    fresh,    including   shell- 
fish.. 

452,490 
125  027 

Textile  manufactures: 
Laces,  embroideries,  and 

188  666 

Fruits  

100,636 

Knitted  goods 

174,418 

Gold,  coined.  .  .  . 

107,082 

Hats  
Hides    and    skins,    manufac- 
tures of  
Instruments,      musical      and 

447,937 
118,023 

except  waterproof  
Wood  and  manufactures: 
Unmanufactured,  except 
dyewood  

763.364 
248.087 

scientific  
Iron  and  steel  and  manufac- 

107,238 

Manufactures  — 
Furniture- 

130.702 

tures: 

Other  

75,794 

Beaten,    drawn,    and    in 

Wool,  pure- 

689.861 

sheets  

348,456 

All  other  articles 

1  887,017 

Electric  

339,731 

Total  

19,258.996 

10 


ARTICLES  OF  EXPORT 


Articles. 

Value. 

Articles. 

Value. 

EXPORTS. 

Silver-  Crude  .  . 

1.675,940 

Coined  

168,204 

Bismuth  

836,366 

Tin  

23,432,658 

Coca       .    ...        

286,417 

Wolfram 

202.165 

1,318  389 

All  other  articles 

1,104,816 

pnuv._r 

fi  fl^9  SQ9 

Total  

35,057.841 

SUPPLEMENTARY  TABLE — ARTICLES  OF  EXPORTS  TO  BOLIVIA 

FROM  UNITED  STATES  IN  THE  FISCAL  YEARS 

ENDING  JUNE  30,  1911  AND  1912. 


Articles 

1911 

1912 

Breadstuffs:  wheat  flour  

$53,072 

$16,748 

Cars,  carriages,  other  vehicles  and  parts  
Chemicals  drugs  dyes  and  medicines.... 

4,596 
38,829 

14,927 
35,154 

Cotton  manufactures:  cloths  
All  other 

273,562 
11,003 

298.058 
17,663 

Explosives  

63,546 

29,496 

Iron  and  steel,  and  manufactures  
Leather  and  tanned  skins,  manufactures  

158,958 
31,041 

246,076 
26,223 

Meat  and  dairy  products  

52,046 

49,206 

Oil,  mineral  refined 

68,165 

41,583 

All  other  articles  

136,825 

216.391 

Total  

'$891,624 

$991,525 

RAILWAYS 


ROUTES  TO  THE  INTERIOR 

All  foreign  trade  must  pass  through  foreign  territory,  as  the 
country  is  entirely  land  locked,  having  lost  its  coast  line  to 
Chile  in  the  war  of  1879-1884.  Commerce  with  the  outside 
world  passes  over  one  of  six  routes  as  follows: 

To  the  north  by  way  of  the  Madeira  and  Amazon  Rivers. 

To  the  east  by  way  of  Puerto  Suarez  and  the  Paraguay  River. 

To  the  south  by  way  of  La  Quiaca  and  the  railway  from 
there  to  Buenos  Aires. 

To  the  west  by  way  of  railway  connections  with  the  ports 
of  Antofagasta,  Arica  and  Mollenda. 

Of  the  three  lines  to  the  Pacific  the  Antofagasta  Railway, 
British  owned,  carries  much  the  heaviest  freight  traffic.  It 
runs  270  miles  to  the  Bolivian  frontier,  108  miles  from  there 
to  Uyuni,  and  195  miles  from  Uyuni  to  Oruro. 

The  railway  from  Oruro  to  La  Paz  was  constructed  by  the 
Bolivian  Government — 183  miles,  but  is  administered  by  the 


11 

Antofagasta    Railway    Co.      The    distance    from    Antofagasta 
to  La  Paz,  by  this  route,  is  711  miles. 

The  shortest  and  most  recently  built  road  to  the  coast  is  the 
Arica-La  Paz  line,  completed  in  1912  by  Chile — meter  gauge — 
264  miles  long.  As  Arica  has  one  of  the  best  harbors  on  the  Pa- 
cific coast,  the  railway  is  expected  to  become  a  very  important 
carrier  of  passengers  and  freight,  especially  upon  the  opening 
of  Panama  Canal. 

There  are  in  all  about  800  miles  of  railway  in  Bolivia,  and 
construction  is  going  steadily  on.  In  1906  the  Bolivian  Govern- 
ment entered  into  a  contract  with  Messrs.  Speyer  &  Co.  of  New 
York,for  the  expenditure  of  $26,700,000  covering  the  construction 
of  new  railways,  of  which  amount  $9,730,000  was  obtained  from 
Brazil  in  partial  return  for  the  agreement  of  Bolivia  to  surrender 
its  claim  to  certain  disputed  territory  in  the  north.  The  con- 
tract was  later  turned  over  to  foreign  interests,  and  the  actual 
work  on  many  of  the  proposed  lines  has  been  carried  on  by  the 
Antofagasta  Railway  Co. 

These  include  the  following  lines : — 

From  Oruro  to  Cochabamba, 

From  Rio  Mulatos  to  Potosi 

From   Uyuni   to   Tupiza 

From  Tupiza  to  La  Quiaca. 

Upon  completion,  these  lines  will  bs  operated  by  the  Anto- 
fagasta Railway  Company  for  a  percentage  of  their  gross  earn- 
ings. 

Aside  from  the  Antofagasta  Railway,  and  the  Guaqui-La 
Paz  line,  which  belongs  to  the  Peruvian  Corporation,  all  the  rail- 
ways in  Bolivia  are  operating  under  a  Government  guarantee. 


BRAZIL 


Area 3,218,991  Square  Miles 

Estimated  Population  in  1911. 23,071,000 

Currency— Gold  Milreis  =  $0.546 
Paper  Milreis  =  $0.3242 


In  accordance  with  the  Law  of  June  17th,  1914,  the  Minister 
of  Finance  of  Brazil  has  authorized  a  funding  of  the  loans  as 
mentioned  below  in  one  consolidated  issue  of  £15,000,000.,  bear- 
ing 5%  interest  and  guaranteed  by  a  second  mortgage  on  the 
receipts  of  the  Customs  of  Rio  de  Janeiro.  If  these  be  insuffi- 
cient the  loan  will  be  equally  guaranteed  by  receipts  of  other 
ports. 

4J%  Loan  of  1883. 

4|%  Loan  of  1888  . 

4  %  Loan  of  1889. 

5  %  Loan  of  1895. 
5  %  Loan  of  1908. 
4  %  Loan  of  1910, 

4  %  Loan  of  1911. 

5  %  Loan  of  1913. 

4  %  Rescission  (guaranteed  by  railway  receipts). 

5  %  Lloyd  Brazilian  Bonds. 
4  %  Lloyd  Brazilian  Bonds. 

DEBT 


Federal  Loans: 
External  .    .  . 

£91,727,180 

Internal 

54,334,533 

t£146  061,713 

State  Loans: 
External  

£  34,780.990 

Internal  .    . 

10,908,185 

f  f   4-  «oq  171: 

Municipal  Loans: 
External  .    ... 

£   17  167,360 

Internal 

6  904  006 

t£   94  071  >:?fifi 

Total  Debt 

t£215  892  '-'54 

t  Approximate. 


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BUDGET 


*1912  *1913 

Revenue £34,506,954  £39,603,165 

Expenditure £36,492,689  £41,890,535 

Deficit £1,985,735  £2,287,370 

*Estimated 

FOREIGN  TRADE 


Countries. 

1903 

1910 

1911 

1912 

"*  Imports  from  — 
United  States 

$13,258,955 

$30,253,918 

$34,263,428 

$48,049,922 

United  Kingdom  
Germany  
France.  

33,289,020 
14.472,475 
10,349,598 
10,510,869 

67,061,065 
37,455,530 
22,268,307 
20,133,472 

74,613,133 
43,134.318 
22,720,330 
19,573,380 

77.519.726 
52,952,625 
27,716,833 
23,088,658 

Other  countires  

35,607,657 

58,402.545 

63,120,317 

78,537,425 

Total  imports  

$117,488,574 

$235,574,837 

$257,424,906 

$307,865,189 

Exports  to  — 
United  States  
United  Kingdom  
Germany  
France                              .  . 

$73,773,532 
34,595,381 
26,547,007 
16,908,361 

$112.184,068 
73,440,577 
36.285,755 
26.116.585 

$115,731,284 
48,871.369 
47.161.518 
25.720,580 

$141,739.682 
43.012,381 
51,864,086 
35,471,044 

Netherlands  
Austria-Hungary  
Argentine  

no  figures 
4,856,632 
3,835,375 

15,289.064 
9.007.954 
11.618.104 

26,419,020 
16,741,195 
12,779,377 

22.952,681 
18.235.426 
14.211,427 

Other  Countries  

18.490.036 

24.155.703 

23,906,753 

27.257.993 

Total  exports  

$179,006.324 

$308,097,810 

$317,331,096 

$354.744.720 

ARTICLES   OF  IMPORT 


Articles.              Year. 

Total. 

United    i     United 
States.     Kingdom. 

Germany 

France. 

Belgium. 

Arms  and  ammuni- 
tion: 

Ammunition  
Firearms  

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

$867,330 
2,178,121 
1,233,122 
2,280,796 
111,000 
172,889 
280,325 
351,719 
215,201 
258,786 
74,385 
72,676 

174,526 
214,938 
11,666,786 
14,026,977 
9,697,106 
11,733.682 

2,815,727 
7,382,069 
759,907 
1,328,604 
156,597 
285,090 
71,953 
93,150 
2,329,477 
5.368.650 
548,729 
1,265,430 

$443,572 
457,294 
544.913 
572,302 
32.090 
39,334 
17.927 
44,394 
42.851 
37,116 
29,545 
19,573 

50,886 
57,540 
151 
213 
3,326,763 
4,007,047 

393,305 
1,915,701 
177,763 
271,653 
69,104 
161,351 
12,551 
26,803 
361,573 
924,045 
25,918 
110,530 

'  $58.136 
21,756 


$155,250 
1,369,956 
112,928 
1,111,675 

$182.002 
197,561 

$474,562 
488,328 

Asphalt  i 

'  177.797 
206,090 
89.154 
103,249 
21,734 
29,039 

40,758 
48,186 

52.656 

42,740 
27.924 
41,287 
16,225 
17,163 

22',90i 
49,137 
29.575 
31.837 



Belting                        i 

Bicycles 



Blacking,  boot  
Breadstuffs: 
Flours  and  meals, 
not  wheat  

Wheat  



Wheat  flour  
Cars,  carriages,  mo- 
tor cars,  etc.: 

Railway  cars  
Axles   and  wheels, 
for  railway  cars 

Carriages,  etc  
Axels,  etc.,  for  car- 
riages   

Motor  cars  

1,135,708 
991,730 
274,628 
268,616 
30,689 
31.658 

'  '218,766 
317,873 
39,392 
112,434 

331,761 
177,968 
431,786 
27,667 
41,716 
22,589 
18,790 
546,208 
1,526,018 
153,483 
320,209 

1,118.195 
3,912,337 
114,558 
337,014 

'  23,489 
29,125 
716,457 
1,470,795 
275,933 
483,508 

30,130 
186,216 

Motor  car,  acces- 
sories.. ...... 

18 


Articles. 

Year. 

Total. 

United 
States. 

United 
Kingdom. 

Germany 

France. 

Belgium. 

Cement  
Cordage,    jute    and 
hemp  
Cotton         manufac- 
tures: 
Piece  Goods- 
Bleached  

1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

3,628.071 
5,263,961 
74,115 
91.014 

1,897,289 
1,457,021 
244,237 
255,016 
4,713,653 
3,320,815 
1,756,515 
935,708 
9,141,535 
8,329,407 
3,859,899 
3,788,388 
13,417,773 
18,482,303 
2,139,312 
2.214,749 

237,678 
227,530 
304,130 
247,059 

331,155 
435,057 
71,587 
72,467 
4,155,944 
4,908,461 
373,346 
563,570 

$503.314 
579,885 
167,963 
204,388 
4,032,770 
4.811,052 
463,464 
559,805 

5,687,440 
6,537.176 
1,241,233 
1,267.575 

604.583 
703,853 
753,204 
961,797 
51,401 
64.082 

750,287 
776,833 
369.321 
518,487 
722,470 
756,931 

102,155 
111,969 
37,008 
36.576 

191,876 
230,589 
96,125 
85,485 
321,005 
216,052 
553,243 
586.037 

33,768 
275,942 
7,431 
12,168 

17,693 
12,094 
2,743 
4,386 
58,404 
54,865 
5,360 
1,195 
76,666 
69,650 
169,650 
187,005 
411,580 
2,788,601 

1,101,904 
1,138,048 
30,462 
34,919 

1,717,997 
1,310,654 
228,263 
237,242 
4,023,022 
2,905,293 
1,657,671 
836,941 
5,169,684 
4,608,054 
1,175,978 
1,091,231 
12,963,019 
15,490,137 
1,997,982 
2,099  247 

1,379,933 
2,525,183 
15,101 
17,643 

137.618 
117.025 
12,473 
11,058 

621,126 
960.125 

Unbleached.  .  .  . 
Dyed  
Printed  
Other 

'141,843 
74,654 

1,568,790 
1,461,724 
1,495,204 
2,272,635 

'  85,307 
59,781 

425,487 
376,106 
424,421 
402,305 

'  230,996 
120.078 

'  55'l',952 

438.478 

Other  
Coal  
Patent  fuel 

'  '140,806 
56.702 

Clocks  and  watches: 
Clocks.. 

130,538 
100,479 
28,925 
10,027 

40,156 
52,939 
49,375 
47,158 
426,511 
423,164 
21,760 
10,257 

$162,914 
250,047 
84,962 
55,044 
1,643,601 
2.060,944 
97,044 
140.729 

160.212 
279,415 
146.402 
144.028 

14,097 
19,544 
159,499 
212.010 
30,038 
33,304 

52,866 
58,245 
170 
4,042 
4,552 

12,073 
18,148 
3,250 
2,923 

147,128 
165,793 
24,917 
19,065 
79,701 
36,873 
220,163 
172,381 

77,550 
93,059 
22,345 
14,586 

:::::: 

Watches 

Chemicals  and  drugs: 
Calcium  carbide.  . 
Pills,  etc  

'  849,648 
962,656 
179,669 
417.202 

$211,782 
241,369 

'  852.772 
569.562 
93,605 
106.077 

422.639 
449,641 

1,055,413 
1,364,543 
73,525 
91,324 

$86,236 
49,997 
60,924 
125,582 
1,996,004 
1,375,764 
202,878 
236.351 

1,371,529 
1,537,131 
62,392 
37.119 

Pharmaceutical 
goods  etc  
Dynamite  and  other 
explosives  
Electrical  machinery 
and  supplies: 

Cable  
Insulators  

$'173,059 
537,036 
47,389 
51.979 

Machinery  
Fishhooks,     locks, 
stirrups,  etc  .  .  . 
Fish: 

Codfish  

76,100 
75,259 

179,850 
242.847 

Preservedextracts, 
etc 

Fruits: 
Dried.  

Fresh  
Preserved,  and  ex- 
tracts   
Glass  and  manufac- 
tures: 
Bottles  and  tum- 
blers   

Window  glass  

Hats.  .  . 
Ink: 

Printing     . 

537.732 
564,005 

9,105 
14,359 

84,582 
73,050 

$237.918 
319.055 

96,842 
135,855 
99,021 
89.217 

53,896 
59,066 

139,812 
149.846 

34,398 
32.535 



Writing  
Instruments,  scienti- 
fic: 

Dental  
Optical,  and  goods 
Surgical,  and  goods 
Other  

21,395 
25.160 

19,603 
34.385 

17,543 
23,810 
19,972 
25,612 
121,960 
70,598 
135,384 
191.322 

'  49,438 
36,965 
99,508 
95,661 
72,553 
110.639 

::::::: 

'  'loojio 

75.19C 

19 


Articles. 

Year. 

Total. 

United 
States. 

United 
Kingdom. 

Germany 

France. 

Belgium. 

Iron  and  steel,  and 
manufactures  of: 

Cutlery  

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

/  1911 
\  1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 
1911 
1912 

1911 
1912 
1911 
1912 

I  1911 
\  1912 

$1,209,390 
1,193,260 
562,708 
485,525 
1,194,900 
2.060,072 
143,192 
170,171 
1,343,706 
1,797,435 
375,620 
372,735 
3,022,667 
3,749,149 
1,402,834 
1,460,513 

619,574 
702,012 
3.811,181 
5,758,613 
8,105,575 
10,071,038 
506,300 
547,469 
6,376,065 
9,384,650 
120,272 
135,175 
1,886,665 
2,548,510 
619,746 
944,537 
525,114 
716,563 
2,125,550 
3,099,101 
2,261,259 
3,973,039 
375,630 
423,494 
2,867,908 
3,311,443 

1,543,769 
1,478,680 

404,472 
531,639 
19,167 
20,842 
3,750,288 
3,587,909 
449,486 
412,719 
603,529 
465,826 

177,436 
187,414 
430,424 
525,627 
111,568 
111,526 
288,873 
308,424 
1,221,127 
1,396,423 
108,130 
128,429 

605,101 
458,952 
775.396 
866,547 

591,251 
1,185,084 

$209,647 
178,465 
12,087 
13,020 
108,416 
328,994 
56,478 
54,393 
60,330 
114,879 

7,019 
1,775,998 
1,871,639 
506,224 
425,918 

391,964 
409,458 
128,336 
230,799 
2,263,744 
3,556,371 
111,159 
117.401 
1,217,471 
1,868,840 
49,668 
67,337 
990,018 
1,563,131 
42,881 
94,276 
55,825 
77,836 
211,255 
196,928 
316,102 
419,678 
319,410 
354,833 
578,650 
694,927 

479,672 
328,901 

147,583 
333,285 
67 
40 
601,651 
561,458 
30,375 
35.724 
66.222 
60,656 

153,272 
157,373 
37,394 
15,210 
91,634 
92,275 
37,282 
25.202 
16.700 
18,541 
9,662 
15,332 

165,251 
138,602 
109,046 
126,894 

571,657 
1,164,021 

$315,301 
337,214 
63,882 
59,051 
960,558 
1,540,600 
52,952 
51,471 
406,946 
529,803 
366,023 
331,278 
697,684 
459,850 
280,733 
333.763 

85,126 
84,233 
2,454,873 
2,776,668 
^2,256,738 
2,379,798 
122,497 
143,478 
972,533 
751,474 
30,332 
24,013 
90,837 
105,297 
321,692 
518,345 
362,162 
466,263 
438,876 
648,719 
1,035,872 
1,988,125 

1,345,518 
1,537,651 

346,881 
391,635 

18,071 
20,150 
288,680 
224,854 
105.108 
92.322 
119,889 
107,021 

$750,973 
576,594 
455,189 
379,110 
62,443 
91,931 
24,427 
42,635 
475,741 
569,338 


39i',978 
1,290,737 
507,389 
507,533 

117,736 
179,056 
830,706 
1,784,057 
2,114,931 
2,249,642 
123,581 
116,929 
811,432 
1,344,151 
31,472 
31,839 
802,578 
963,594 
92,222 
81,098 
49,302 
78,623 
703,i97 
1,223,603 
748,998 
985,359 
45,887 
60,116 
625,294 
661,834 

191,097 
360,880 

1,509,790 
1,585,747 
122,380 
120,066 
290,007 
223,470 

101.517 
86.941 

Enameled  ware.  .  . 
Galvanized  corru- 
gated sheets..  .  . 

Furniture  
Bars,  rods,  plates 
and  sheets  
Cast,  pig,  and  pud- 
dled iron  

Locomotives  
Motors    and    sta- 
tionary engines 
Machinery  —     . 

Agricultural. 
Industrial..  .  . 
Other  
Nails,  screws,  etc.. 
Rails,  joints  etc.  .  . 
Scales  

Sewing  machines. 
Steel      bars      and 
rods  

Stills,  boilers  etc.  . 
Structural         ma- 
terial   
Tubes,   pipes,   fit- 
tings   
Typewriters     and 
accessories  

Tools  
Telegraph      poles, 
bridge  and  fence 
material  
Leather,  and  manu- 
tures  of: 

Boots  and  shoes.... 
Sole  leather  

Other  leather  
Manufactures     of 
leather  and  skins 

Lighting  apparatus 
Meats  and  products: 

Bacon  
Hams  

Lard  
Preserved,  and  ex- 
tracts   

Milk,  condensed.  .  .  . 

Mills  
Musical  instruments 
Phonographs    and 
accessories  

Pianos.  .  . 

$268,658 
397.021 

$43.070 
70.511 

'146,276 
122.518 

'184,000 
354,519 
746,884 
888,227 
73,527 
80,627 
1,133,105 
2,071,438 

'  '153.978 
345,870 

2.223,694 
3.318,764 

273,924 
384,630 
132,332 
354,521 

448,724 
564,202 



205,689 
299,377 

117,894 
25.509 

23,570 
27,181 

1,  '046,779 
896.943 

397.675 
469.437 

'  iiV.eos 

76.573 

364.690 

458,846 

25,803 
35.156 

::::::: 

46,970 
48,325 

400,172 
303,147 
548,357 
607.091 

'  28,410 
42.722 

'  81,237 
79,795 

::::::: 

Oils: 

Gasoline  

20 


Articles. 

Year 

Total. 

United 
States. 

United 
Kingdom. 

German} 

France. 

Belgium. 

1911 

$3  153  257 

3  140  603 

Kerosene  

1912 

4,424,90 

4,383,101 

1911 
1919 

1.054,466 
1  262  449 

655.024 
812  756 

$189,367 
152  10 

$76,416 
129  294 

Paper,  and  manufac- 
tures of: 
Card      and      mill 
board  

1911 
1912 

336,282 
451,045 

2,453 
4,413 

234,965 
261.009 



1911 

9,646 

4,550 

3,878 

1912 

9  058 

4  414 

2  451 

Printing  paper..  .  . 

1911 
1912 
1911 
1912 

1,718,412 
2,107.646 
580,268 
525  185 

15,047 
13,595 
63,103 
57  291 

57,043 
61,101 
141,421 
115,605 

742,676 
881,228 
269,358 
261,500 

$84,152 
74,376 

$158,592 
111,916 

Writing  paper.  .  .  . 

1911 
1912 
1911 
1912 

486,117 
425,648 
75.317 
65  229 

8,500 
12,974 
12.989 
13  151 

38,555 
29  405 

224,102 
220,869 
14,267 
14  266 

'.'.'.'.'.'.'. 

Photographic        ap- 

1911 

224  669 

.59  172 

64,897 

59,122 

1912 

224,255 

51,521 

72,405 

51,663 

1911 

41  964 

13  863 

11  238 

10  963 

Presses 

1912 

37,519 

6,333 

14,712 

10,237 

1911 

368  912 

77  277 

147  798 

121  978 

and  parts  

1912 
1911 

365,636 
25  231 

92,776 
139 

118,906 
14  521 

86,698 



Pipe  lead 

1912 

51  542 

1  776 

45,491 

Plated  ware  

1911 
1912 

73,361 
72,960 

4,533 
3,368 

29,556 
32,398 

24.147 
26.423 

Perfumery,  dyes,  etc. 
and  materials  for 

1911 
1912 
1911 

3,080,547 
2,829,581 
571  033 

306,671 
277,532 
104,373 

1,254,277 
620,696 
324,626 

760,491 
301,905 
102,319 

145,099 
1,041,177 
27,002 

300,232 
1,964 

Paints,  prepared.  .  .  . 

1912 
1911 

753,872 
1  451  462 

130.806 
1  432  792 

394,256 

127,948 

43,801 

1912 

1  593  017 

1  '547'214 

1911 
1912 

924,406 
962  267 

180.056 
182  828 

203,966 
278  553 

262,742 
288  933 

101,954 
111  358 

1911 
1912 

253,577 
289  575 

44,908 
35  734 

167,673 
198  953 

28,560 
56  998 

Starch 

1911 
1912 

175,695 
212  972 

825 
1  502 

50,172 
59  796 

57,448 
69,984 

48.632 
56,828 

Salt 

1911 
1912 

542,428 
731  785 

49 

107,839 
137,923 

1911 

156  050 

10  250 

14  557 

Tallow  and  grease. 

1912 

80  022 

2  871 

15,137 

1911 

1  715  882 

134  188 

1,550  546 

Tin  plate,  in  sheets... 
Tinware 

1912 
1911 
1912 

1,421,649 
83,056 
100  931 

271,451 
7,227 
6  678 

1,112,935 

'  54,220 
47  953 

6,636 
29  369 



1911 

28  402 

4  239 

10,418 

Tents  

1912 
1911 

41.336 
199  364 

2,054 
1  820 

13,480 

14,226 
103,895 

'  46,803 

1912 

233  373 

2  089 

107,021 

37,188 

1911 

283  898 

25  378 

Tobacco  leaf 

1912 

343  987 

44  602 

1911 

144  582 

46  457 

95  303 

Varnishes 

1912 

198  527 

49  260 

115,833 

Vegetables: 
Dried 

1911 
1912 

29,839 
35  413 

2,091 
815 

7,983 
9  859 

Preserved,  and  ex- 
tracts 

1911 
1912 

523.303 
611  043 

20,080 
15  389 



89,274 
118  861 

Wire: 

f  1911 
\  1912 

777,714 
1  293  638 

416,897 
851  550 

56,207 
65  115 

240,409 
285  042 

Other  

/  1911 
1912 
1911 

3,397,118 
2,880,837 
1  205  860 

883,227 
823,876 
22  159 

334,233 
227,990 
116,221 

1,773,838 
1,403,714 
243.294 

231,916 

344,240 
344,331 

Wearing  apparel.  .  .  . 

Wood,  and  manufac- 
tures of: 

\  1912 
/  1911 

1,140,662 
713  379 

40,577 
108  640 

214,689 
108  772 

222.144 
99,919 

247,057 
72,239 

i  1912 

871  002 

137  340 

76,271 

115,560 

108,453 

Pine    blocks    and 

/  1911 
\  1912 

1,883,194 
2  768  805 

,635,135 
2  302  576 

Staves  and  hoops  . 

/  1911 
\  1912 

188,057 
186  883 

32,058 

7  886 

26,107 
28  931 

100,323 
112,666 

Rough,          sawed 

/  191  1 

169  341 

36  351 

24300 

veneered  

1912 

464^835 

33!  123 

25.621 

21 


ARTICLES  OF  EXPORT 


19 

LI 

19 

12 

Quantity 

Value 

Quantity 

Value 

Brazil  nuts.  .  .  .hectoliters.  .  . 
United  States  do.  .  .  . 
Great  Britain  do.  ... 
Germany  do.  .  .  . 
Bran  metric  tons  .  . 
Germany  do.  .  .  . 
Belgium                        do 

138.165 
105,423 
23.641 
9,013 
54.108 
36.337 
5,691 

$1,289,459 
978,300 
222,748 
87,498 
1,779,193 
1,188,141 
192,984 

343,394 
220.797 
90,269 
30,412 
54,424 
40,410 
6,733 

$2.122.163 
1.347,711 
585.466 
177,795 
1,672.782 
1,224.684 
214.820 

Great  Britain  do.  ... 
Netherlands               do 

10.371 
1,255 

341,683 
41,963 

3,718 
1,072 

122,607 
50,435 

Coffee  bags.  . 
United  States  do.  ... 
Germany  do.  ... 
Netherlands  do.  ... 
France  do.  ... 
Austria-Hungary.  .  .do.  .  .  . 
Belgium                        do 

11.257.802 
4,444,973 
1,803,991 
1,413.412 
874.928 
967,677 

196,272,768 
77.415,072 
31,693,954 
25,730,560 
15.073.384 
16,579.955 

12,080,303 
5,092,661 
1,820,407. 
1,183,255 
1.187.268 
957,886 
405,583 

225,992.915 
95,175.982 
34,313,238 
22,548.592 
22,096.568 
17,893.058 
7,602,722 

Argentina  do.  .  .  . 

225,187 

3,819,060 

237,169 

4,416.465 

Italy                             do 

204,933 

3.481,518 

205,605 

3.821.632 

Great  Britain  do.  .  .  . 
Sweden       ..                do 

270,114 

4,686,608 

171.201 
164,418 

3,216.122 
3,068.332 

Spain  do.  .  .  . 
Cacao  metric  tons  .  . 
United  States  do.  ... 
Great  Britain              do 

"  34,994' 
7,849 
6,577 

"7,982,570' 
1,803,057 
1,510,629 

107,519 
30,492 
7,146 
9.027 

2,023.430 
7.421.832 
1.729,685 
2,210.  515 

Germany  do.  .  .  . 
France  do.  ... 
Argentina  do.  ... 
Netherlands.  do.  .  .  . 
Austria-Hungary.  .  .  do.  .  .  . 
Cotton  do.  .  .  . 
Great  Britain  do.  ... 
Germany  do.  .  .  . 
Portugal  do.  ... 
Belgium.    do.  ... 
France  do.  ... 
Cotton  seed  do.  ... 
Great  Britain  do.  ... 
Germany  do.  .  .  . 
Carnauba  wax  do.  ... 
United  States  do  
Germany                     do 

9,925 
6,341 
918 
2,258 
327 
14,647 
10.103 
531 
2.754 
288 
454 
39.429 
34,025 
4.164 
3,214 
760 
1,814 

2,263,142 
1,432.321 
216,857 
501,007 
74.904 
4.758,262 
3,271,587 
163,274 
908,836 
98,157 
145,501 
877,769 
751,926 
98,301 
1.898,198 
446,722 
1,098,611 

6,498 
5,010 
919 
837 
591 
15,774 
13,670 
1,116 
745 
501 
379 
36,793 
33,396 
2,041 
3,099 
659 
1,821 

1,594,958 
1,220,431 
226.042 
200,642 
138,068 
5,035,519 
4,134,602 
344.394 
222.706 
149,412 
88,515 
892,703 
561.209 
50.290 
1.763.899 
379,781 
1,047,466 

Great  Britain  do.  ... 
France                         do 

520 

286,901 

406 
209 

228,805 
105,233 

Gold  in  bars  grams.  . 
Great  Britain  do.  .  .  . 
Hides  metric  tons  .  . 
United  States             do 

4.289,630 
4,281,230 
31,831 
131 

2,272,631 
2,268,176 
8,741,949 
50,482 

4,026,775 
4,021,455 
36.255 
851 

2.116,200 
2.113,402 
9.765.363 
353,803 

Germany  do.  .  .  . 

12,296 

3,746,166 

14.282 

4,114.772 

France  ....                do  . 

6,333 

1,443,850 

9,904 

2.334,913 

Belgium  do.  .  .  . 

2,198 

533,691 

2,513 

590,367 

Portugal  do.  .  .  . 
Uruguay  do.  .  .  . 

952 
1,013 
952 

359,958 
384,694 
359  958 

816 
929 
695 

333.465 
304.635 
205.228 

Italy  do...,. 
Austria-Hungary.  .  .  do.  .  .  . 
Yerba  mate"  do.  .  .  . 
Argentina  do.  ... 
Uruguay  do.  .  .  . 
Chile  do.... 
Manganese  ore               do 

368 
206 
61,834 
46,500 
12,156 
3,057 
173,941 

134,744 
82,163 
9,638,432 
7,211,322 
2,033,481 
372,088 
1,254,061 

389 
272 
62,880 
45,309 
14,442 
3,068 
154.870 

181,083 
110,020 
10.205,864 
7,225,942 
2,511.062 
458,002 
1.115,079 

United  States  do  
Great  Britain             do 

50,150 
41,801 

361,085 
301,617 

82,530 
25,300 

594,224 
182,163 

Germany  do.  .  .  . 
Belgium  do.  .  .  . 
France  do.  .  .  . 

14,100 
34,840 
7,650 

101,849 
250,851 
55,442 

20,000 
10,900 
10,340 

144.002 
78,481 
74.449 

Monazite  sand  do.  .  .  . 
United  States  do.  ... 
Germany  do.  .  .  . 
France  do.  ... 

3,686 
700 
1,890 
1.096 

539,298 
101,352 
280,996 
156,951 
135,445 

3.398 
600 
1,852 
945 

527,258 
93.197 
291.467 
142,604 
256,693 

France 

22,903 

194,868 

Germany 

69,927 

36.716 

22 


Articles  and  destination. 

1911 

1912 

Quantity. 

Value 

Quantity 

Value 

Rubber               metr 

ic  tons  .  . 
.  .do 

36,547 
16.146 
15,662 
3,221 
1,058 
156 
2,798 
1.825 
367 
106 
137 
350 
36,208 
12,260 
23,305 
18.489 
15,779 
2.073 
178 

$73,261,558 
31,359,386 
32,886,456 
6403,342 
1,660,302 
316,429 
3,148,614 
1,994,293 
451,026 
132,335 
106,186 
396,807 
1,984,383 
932,861 
1,000,884 
4,703,531 
3,967,401 
557,587 
53,126 

42,286 
21,322 
14.728 
4,436 
1,660 
126 
3,189 
2,157 
594 
221 
121 
85 
4,772 

V,  599' 

24,706 
19,236 
4,796 
387 

$78,125,250 
39.344,927 
27,042.375 
8,091,635 
2,399.485 
233.818 
3.680,148 
2,430,850 
724.864 
286,798 
147.982 
85.708 
272.086 

244',099 
6,962.440 
6,366.114 
1.392.544 
110.661 

United  States.  .  .  . 

Great  Britain..  .  . 
France  
Germany.  .    . 

..do.... 
..do.... 
do 

Belgium  
Skins  

..do.    .  . 
.do.    .. 
.do.    . 

United  States  

France  
Belgium  

.do.    .. 
do 

Germany 

.do.    .. 
.do.    .. 
.do.    . 
.do.    .. 

Great  Britain.  .  .  . 
Sugar  
United  States.  •>  .  . 

Great  Britain  
Tobacco  
Germany  
Argentina  
Uruguay  

.do.    .. 
.do.... 
.do.... 
.do... 
.do.... 

RAILWAYS 


At  the  beginning  of  1912  there  were  in  operation  13,840  miles 
of  railways,  of  which  471  miles  were  constructed  in  1911.  There 
were  also  under  construction  at  that  time  2, 386  miles  of  railways, 
and  3,152  miles  of  proposed  road  were  approved. 

Nearly  all  of  the  Brazilian  lines  are  either  owned  by  the 
Federal  Government  or  leased  to  concessionaires  with  a  pro- 
vision for  future  reversion  to  the  Government,  or  are  owned 
by  the  State  Governments. 

The  most  extensive  construction  is  in  the  coffee  district  in 
the  States  of  Sao  Paulo  (3,482  miles  in  1912)  and  Rio  de  Janeiro. 
Aside  from  these  States  the  railway  mileage  is  largely  in  the 
States  of  Rio  Grande  do  Sul  (1,350  miles  in  1912),  Santa  Cathar- 
ina,  Parana  and  Bahia. 

The  Estrado  de  Ferro  do  Central,  or  Central  of  Brazil  Rail- 
way, which  is  known  as  the  trunk  line  of  Brazil,  is  1,236  miles  in 
length  and  has  cost  to  date  $80,000,000. 


CHILE 


Area 292,580  Square  Miles 

Population  in  1910 3,415,060 

Currency— Gold    Peso  =  $0.365 
Paper  Peso  =  *0.2061 

*Exchange  rate  of  paper  peso  on  January  1,  1914. 


In  addition  to  the  loans  as  shown  in  the  table  on  Page  24,  the 
following  amounts  have  been  guaranteed  by  the  States : 

Longitudinal   Railway   5%    Bonds 

(Amortization  at  2%) £4,026,000. 

Sociedad  Altos  Hornos  de  Conal  (Iron 
Smelting  Company  at  Conal) 
5%  Bonds £525,000. 

Since  the  Chilean  Government  commenced  borrowing  abroad 
in  1822;  the  total  amount  of  money  raised  has  been  £54,000,000. 
This  has  been  allocated  as  follows: 

Consolidation  of  old  loans £15,000,000. 

Armaments 9,000,000. 

Public  Works,  etc 27,000,000. 

Sundries 3,000,000. 


DEBT 


Amount.  Issued. 

Amount 
Outstanding. 

Federal  Gov't.  Loans: 
External  Debt  

£41,612.985 

£36  170  225 

Internal  Debt  
Municipal  Loans  (External) 

8,328,007 
800  000 

8.328,007 
666  040 

Total     .  . 

£50  740  992 

£45  164  272 

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BUDGET 


1911-1912 


*1912-1913 


Receipts $70,336,058.19  (Approx.)  $77,453,580.00 

Expenditures.  .$70,450,017.59  (Approx.)  $75,705,360.73 

(*Estimated) 

FOREIGN  TRADE 


Countries 

1910 

1911 

1912 

Imports  from  — 
United  States  
United  Kingdom       

$13.369.774 
34,340,573 

$15,775,969 
40,795,279 

$16.806,341 
38,599.283 

Germany  

26,296,071 

32,696,171 

33.189.070 

Other  countries  ...             ... 

34,620,770 

38,114,060 

33,481.300 

Total  imports  

Exports  to  — 
United  States 

$108.627.188 
$24.680,878 

$127.381.479 
$19,551,932 

$122.075.994 
$24,514,565 

United  Kingdom  

47,835.025 

53,258,282 

55,102.649 

Germany     .                              .    . 

23,142,907 

26.199,770 

28.060,695 

France  

•  5  237,286 

5,865,178 

7.668,570 

Belgium 

3,438,487 

3,479,029 

4,610,960 

Other  countries  

11,448,328 

12,322,532 

17,685,714 

Total  exports 

$115  782  911 

$120  676  723 

$137  643,153 

ARTICLES  OF  IMPORT 


Articles. 

Total 

From 
United 
States. 

From 
United 
Kingdom. 

From 
Germany. 

Bottles  for  liquor  .    .    .    . 

$525,154 

$498 

$523,145 

Cars  for  portable  and  aerial  railways  

850,535 

$18,727 

335,521 

393.922 

Cement,  Roman  

1,703.032 

72  917 

313  012 

1,168,373 

Coal 

11  129  95) 

502  787 

7  103  652 

278  210 

Coffee,  grain  
Coke 

770,292 
383  753 

1,293 

12.640 
155  402 

21,785 
176  455 

Colors,  common,  prepared  with  waters  and 
oil 

409  157 

13  893 

306  272 

84  320 

Cotton  goods  
Cotton  yarn  . 

14,161,177 
1,593  200 

770,188 
38  558 

6.923,30) 
621  476 

3,413.980 
522,450 

Glassware  

391,455 

30,858 

27,682 

274.723 

Iron  and  steel,  and  manufactures  of  
Wire  
Iron  articles  for  domestic  use 

13.448,154 
694,661 
689,537 

3.521.167 
465.300 
26  599 

4,447,775 
28.459 
125  583 

4.446.738 
146,187 
510,028 

Pipes,  tubes,  tools,  etc  
Nails  

1,883,638 
525,819 

152.906 
216  655 

813,813 
58  493 

568,463 
205,515 

Railway  couplings  and  plates. 

276  940 

37  157 

49  141 

145  620 

Iron    and    steel,    unworked,    in    bars, 
plates,  and  other  forms  

1,153,087 

240.183 

149,994 

413,660 

Sheet  iron  corrugated,  galvanized  
Rails  for  railways.  .    . 

1,748,128 
1,516  485 

967.402 
516  384 

776,490 
488  551 

4.150 
443,247 

Live  animals  

3,919,088 

Cattle  

3  286,871 

Locomotives  and  tenders  
Machinery,  implements,  etc.: 
For  arts  and  sciences  

1,119,018 
1.369,415 

107,932 
327,923 

337,791 
169,531 

656,819 
762,327 

Mining  

652,828 

99  827 

250,047 

296,913 

Agricultural 

1  979  586 

915  971 

683  360 

342,550 

Industrial  

2,345,184 

226,647 

867,627 

1,049,792 

Motors 

1  471  558 

81  737 

1  022  549 

304,967 

Parts  
Materials  for  Longitudinal  Railway 

1,122,020 
666  022 

153,672 
316  032 

494,480 
148  954 

613,277 
201,036 

Metals,  other  than  iron  and  steel  
Mineral  water    . 

2,249,211 
401  054 

155.706 
9  450 

840,196 
145  113 

932.125 
90,612 

Olive  and  other  edible  oils  
Paper,  unsized,  for  printing 

1,244,117 
1,220,867 

560,434 
225  398 

28,040 
40477 

162,025 
893,543 

Paraffin  in  paste  form  
Paraffin  and  petroleum,  n.  e.  s.,  naptha, 
gasoline,  etc  

634,204 
1,144,624 

87,808 
1.134,728 

94,811 
10.102 

440.909 
186 

26 


Articles. 

Total 

Jf'roin 

United 
States 

From 
United 
Kingdom 

From 
Germany 

Petroleum,  fixed,  impure  
Petroleum,  crude  
Pine  lumber,  rough  
Railway  freight  cars 

365,026 
2,527,758 
148,949 
430,473 

273,881 
1,240,221 
1,252,359 
13  205 

58,466 

76,335 
187  866 

34,337 

3,079 
62  022 

Rice  
Sacks,  empty  
Salmon  

820,954 
3,285,198 
401,314 

720 
'  373,640 

5,352 
220,705 
10,613 

380,485 
1,105 
12,292 

Silk  thread  and  manufactures  
Sugar: 
Refined  

1,183,838 
199,417 

2,716 
205 

24,903 
890 

333.584 
167,733 

White  
Granulated 

81,182 
2,261,793 

409 
5  460 

19,618 
52  151 

Raw.  .  . 

23,220 

346 

501 

Tea  
Woolen  goods 

933,672 
7,047,551 

5,700 
8  920 

829,158 
3  211  547 

60,937 
2  445  224 

Woolen  yarn  

705,738 

10,168 

54,294 

621,698 

Yerba  mal  6  

689,646 

790 

78,150 

23,503 

EXPORTS  OF  MINERALS 


Minerals. 

Value. 

Minerals. 

Value. 

Borate  
Coal 

$2,274,360 
1,584,019 

Iodine  
Nitrate  
All  other 

SI,  876,  277 
95,630,927 
725  915 

Ore  
Bars  and  ingots  

2,618,590 
3,891,737 

Total,  1911.. 
1910  

$109,492,636 
99,604,099 

Rods  

890,811 

1909  

90.371,020 

ARTICLES  OF  EXPORT 


Countries  of 
Destination. 

Year 

Animal 
products. 

Vegetable 
products. 

Mineral 
products. 

Various 
products. 

Total. 

United  Kingdom  
Germany  
United  States 

1910 
1911 
1912 
1910 
1911 
1912 
1910 
1911 

$5,163,334 
4,365,549 
4,001,008 
1.783,225 
1,610,946 
1,861,578 
287,755 
96,201 

$3,950,165 
1,537,889 
2,739,885 
807,318 
852,774 
1,143,821 
124,628 
217,671 

$38,714,734 
47,345,056 
48,360,235 
20,479,097 
23,698,525 
25,031,886 
24,264,299 
19,237,176 

$6,792 
9,788 
1,521 
73,267 
37,525 
23,410 
4,196 
884 

847,835,025 
53,258,282 
55,102,649 
23,142.907 
26.199,770 
28,060.695 
24,680,878 
19  551  932 

France 

1912 
1910 
1911 

86,433 
1,171,868 
1  157  620 

1,601 
59,160 
18  744 

24,425,951 
3,947,551 
4  650  608 

580 
58,707 
38  206 

24,514,565 
5,237,286 
5  865  178 

Belgium  

1912 
1910 
1911 

1,385,147 
141,317 

149,224 

29,413 
59,259 
158,329 

6,223,415 
3,236,880 
3.166,268 

30,595 
1,031 
5,208 

7,668.570 
3.438,487 
3,479,029 

Netherlands  
Spain  

1912 
1910 
1911 
1912 
1910 
1911 
1912 

57,233 
12,814 
50,966 
34,438 

'  '226 

229,648 
46,742 
52,685 
119,369 
1,406 
29,234 

4,332,816 
2,391,287 
3,338,118 
4,081,639 
1,987,458 
1,981,025 
1,834,419 

1,263 

'  'io2 

1,398 
1,171 

4,610,960 
2,450,843 
3,441,769 
4,235,548 
1,990,262 
2,011,650 
1,834,419 

Uruguay  

1910 
1911 

1,993 
613 

209,577 
431,181 

787,661 

14,339 
2  621 

225,909 
1  222  076 

Argentina  

1912 
1910 
1911 

716 
72,935 
105,451 

228,945 
849,401 
1,003,274 

2,483,624 
10,291 
13,471 

4,395 
116,147 
76,466 

2,717,680 
1,048,774 
1,198,662 

Japan  
Bolivia.  .  . 

I 

1912 
1910 
1911 
1912 
1910 
1911 

34,384 
"l20 

67,447 
41  804 

1,020,441 

'  '169 

22 
859,350 
565  212 

17,388 
730,215 
1,018,296 
957,114 
1,347 
2  591 

56,348 
26 
1,132 
109 
357,870 
56  934 

1,129,061 
730,241 
1,019,657 
957,245 
1,286,014 
666  541 

Other  countries  

( 

1912 
1910 
1911 
[1912 

64,519 
120.956 
89,955 
55,506 

489,103 
1,107,517 
414,584 
1,237,806 

2,259 
2,471,177 
2,244,462 
4,923,996 

30,421 
16,635 
13,176 
8,151 

586  302 
3,716,285 
2,762,177 
6,225,459 

Total  

f 
1 

1910 
1911 
1912 

8,823,644 
7,668,669 
7,580,962 

8,074,523 
5,281,686 
7.1->40,0f4 

98,234,336 
107,483,257 
122,664,742 

650,408 
243,111 
157.395 

115,782,911 
120,676,723 
137,643.153 

27 
RAILWAYS 

At  the  beginning  of  1912,  there  were  in  operation  3.948  miles 
of  railways,  approximately  one-half  being  Government -owned 
and  the  other  half  private-owned. 

The  most  prominent  lines  are  the  Antofagasta  &  Bolivia  Rail- 
way (274  miles) ;  The  Arica-La  Paz  Railway.,  the  Chilean  section 
of  which  is  129  miles  in  length;  the  Central  Railway  System, 
comprising  the  road  between  Valparaiso  &  Puerto  Montt,  with 
branches  (the  main  line  being  over  700  miles  in  length)  and 
the  northern  section  of  the  Longitudinal  Railway,  from  Pueblo 
Hundido  to  Pintados,  about  441  miles  in  length.  This  latter 
road  was  completed  in  1913  at  a  cost  of  nearly  $15,000,000. 

Many  of  the  Government-owned  railways  show  a  heavy 
annual  deficit. 

The  gauges  of  the  railways  vary  from  2  feet  to  5  feet  5  inches. 


COLOMBIA 


Area 435,278  Square  Miles 

Estimated  Population  (1912) 5,073,000 

Currency — Gold  Dollar-$l.  U.  S.  Currency. 

DEBT 


Amount  in 
Circulation 

External  Debt  .          .           

£4,034  680 

Internal  Debt 

919  793 

Total  Debt  

£4  954  473 

Year 
Issue 

Rate  of 
interest 

Sink- 
ing- 

Fund. 

Denomination. 

Amount 
Issued. 

Amount   in 
circulation 

Exter 

nal  debt 

Redeem-  Redeemable  at  ^£  | 
able  by  par  in  payment 
Tenders  of  revenue  ° 

(  )  Consolidated  External  Debt  of  1896  
Government  Bonds  —  Secured  on  Bogota  — 
Sabana  Railway.  Object  —  for  conver- 
sion of  paper  currency 

£2,687,800. 

£    300,000. 
£    300,000. 

*1,  184,980. 

£2,282,900. 

289,400. 
292,400. 

1,169,980  . 

1896 
1906 

1911 
1913 

tlnter 

3% 
5% 

6% 
6% 

nal  debt 

(2)  External  Gold  Loan  of  1911  

Redeemable  in  30  years  and  guaranteed 
by  special  charge  of  3%  on  entire  Cus- 
toms Receipts. 
(OSix  Per  Cent.  External  Debt  of  1913 

(Total    authorized    amount  —  £1,500,- 
000.)Secured  by  7%  of  Customs  Duties 

Total  External  Debt  

£4,472,780. 

£4,034,680. 

27,500 
22,000 
85,900 
595,980 
2,500,000 
6,800 
60,694 
10,240 
9,632 
13,280 
36,879 
45,884 
52,946 
1,131,232 

Cambao  Highway  Bonds  
Amaga  Railway  Drafts 

127,500 
249,750 
782,914 
595,980 
2,500,000 
877,300 
827,010 
2,839,490 
149,129 
50,980 
458,122 
162,211 
509,485 
3,116,421 

Antioquia  "               "      
Cauca  Railway  Drafts  (For  construction) 
1      (Special    Series)... 
Occidente  Railway  Drafts  
Treasury  Bills 

Certificates  of  Foreigners  
Treasury  Certificates  
Certificates  of  War  of  1895  
Certificates  for  Bounties  on  Exports(1907) 
"        (Special) 

"     for  Military  Rewards  
"     of  War  of  1899 

Total  Internal  Debt  

Total  External  Debt  
"     Internal  Debt    . 

$13,246,292 

$  4,598,967 

£4,472,780 
2,649,258 

£4,034,680 
919,7^3 

[£  Sterling  =  $5.00] 
Total  Colombian  Debt          .    . 

£7,122,038 

£4,954,473 

*Amount  issued  to   December   1913. 

t  Prom  the  Report  of  the  Minister  of  the  Treasury,  as  of  June  30,  1913. 

C1)   Issued  in  London. 

(2)   Issued  in  Paris. 

28 


29 
BUDGET. 


1913 

Revenue £3,214,660      ($15,641,303) 

Expenditure £3,210,809      ($15.,  620,588) 

FOREIGN   TRADE 


Countries. 

1912 

Countries. 

1912 

Imports  from  — 

Exports  to  — 
United  States     

$15,832,882 

United  States 

$  7  612  037 

4  376  182 

7,838,878 

Germany  

1,854,211 

Germany     

4,201,125 

France  

625,199 

2,011,886 

Spain     .  .    .    

302,918 

Italy 

1  172  847 

74,470 

Other  countries 

1,127,860 

Other  countries  

9,155,884 

*Total  Imports         .    . 

$23,964,623 

tTotal  Exports  

$32.221,746 

*The  Imports  into  Colombia  increased  from  $12.488,503  in  1907 — to  $23,964,623  in  1912. 
tThe  Exports  from  Colombia  increased  from  $13,791.443.  in  1907— to  $32,221,746.  in  1912. 


ARTICLES  OF  IMPORT 


From 

From 

Articles!? 

Total 

United 

Articles. 

Total. 

United 

States 

States. 

Animals  

$26,016 

$1,608 

Machinery-continued 

Arms  and  accessories. 

57.439 

27,203 

Ceramics,      crockery, 

For        arts     and 

etc  

503.579 

157,674 

sciences  

$620.251 

$349,060 

Drugs  and  medicines  . 

838.347 

390.546 

Musical  instruments 

69,622 

17,398 

Electric        machinery 

Oils  and  fat  products  . 

171,733 

94,457 

and  equipment  .... 
Explosives  

175,638 
94,116 

110,922 

48,876 

Perfumes,  soaps,  etc.  . 
Paper  and  cardboard. 

152,169 
477,522 

92.064 
96.629 

Food  products  

3,054.952 

1,573,257 

Textiles  

10,547,134 

1.667,131 

Metals  

2,916.924 

1,060,274 

Varnishes,  paints,  etc. 

125,862 

48,824 

Machinery: 

Wines,  liquors  etc.,  .  . 

835,772 

68,172 

Agricultural   and 

38  1  ,587 

182  017 

All  other  articles  .... 

1,884,249 

749.062 

Locomotives.  .  .  . 

1,031,711 

876863 

Total  

23,964,623 

$7,612,037 

ARTICLES  OF  EXPORT 


Articles. 

Value. 

Articles. 

Value. 

Animals 

$150  605 

$594  188 

Bananas  

1,996.999 

Rubber 

736  427 

Coffee 

16  777  908 

442  461 

Gold  

6.634,914 

Wood  and  lumber 

15  289 

Hats,  Panama 

1  174  641 

281  885 

Hides 

2  661  721 

Ivory  nuts     .... 

754  708 

Total 

$32  221  746 

30 
RAILWAYS 


Railway  construction  in  Colombia  has  been  very  slow,  there 
being  but  approximately  621  miles  of  railway  in  operation  up 
to  1912,  this  mileage  being  confined  to  comparatively  short 
lines.  As  these  roads  do  not  connect,  goods  shipped  must  go 
through  many  transshipments  before  reaching  their  destination. 

The  Santa  Marta  Railway — 84  miles  in  length,  3'  gauge — 
ends  at  Fundacion,  but  will  eventually  extend  to  Magdalena — 
used  by  United  Fruit  Co.  extensively  for  freight. 

The  Barranquilla  Railway  &  Pier  Co.  operates  18  miles — 3' 
gauge  track  between  Puerto  Colombia  and  Barranquilla — 
Business  heavy  and  profitable. 

The  Cartagena  Railway  65  miles — Cartagena  to  Calama 
on  the  Magdalena.  Owned  and  operated  by  an  American 
company  who  also  own  large  fleet  of  river  steamers.  Line  is 
3'  gauge  and  owns  eight  American  locomotives. 

The  Great  Northern  Central  of  Colombia  now  under  construc- 
tion, will  run  95  miles  (meter  gauge)  from  Puerto  Wilches  on 
the  Magdalena  to  Buccamanga  and  will  open  up  rich  country 
and  carry  heavy  cargo.  This  line  will  eventually  be  extended  to 
Bogota. 

When  completed,  the  Antioquia  Railroad,  owned  by  the 
Department  of  Antioquia  and  subsidized  by  the  National 
Government,  promises  to  be  of  great  importance.  This  line 
will  have  a  3'  gauge  and  will  run  125  miles  between  Puerto 
Berro  and  Medellin.  German  capital  is  interested  in  this  en- 
terprise. 


Roads  Serving  Bogota. 

Miles 

Track 

El  Dorado-Beltram  Line  

71 
81 

3'    gauge 

*Northern  Railway  

18 

*In  course  of  construction. 

In  the  east  the  Cucuta  Railway  connects  the  city  of  that 
name  with  Villamizar,  where  there  is  an  outlet  to  the  sea. 
Another  line  runs  18  miles  across  the  Venezuelan  frontier  from 
Cucuta  to  Tachira. 

The  profit  of  all  of  these  roads  has  been  good  and  the  demand 
for  an  outlet  for  the  interior  cities  and  the  agricultural  and 
mining  sections  will  continue  to  attract  capital  to  this  field  of 
investment. 


ECUADOR 


Area  (Estimated) 116,000  Square  Miles 

Population  (Estimated) 1,500,000 

(one-half  to  three-fourths  are  Indians,  and  about  350,000 
half-breeds) . 

Currency— Sucre    =   $0.487 

Condor  =  Pound  Sterling 

DEBT* 

Amount  Outstanding 


External  Debt          .    .         

$13,052,661 

Internal  Debt 

5  721  577 

Total  Debt 

$18  774  238 

*Asof  December  31,  1912. 


STATEMENT  OF  THE  PUBLIC  DEBT  ON  31sT  DECEMBER,  1912. 


Commence- 
ment   of 
Service. 

Creditors. 

Interest 

Sinking 
Fund. 

In 
Circulation 
31st  Dec., 
1912. 

1903 
1909 
1909 
1909 
1910 
1910 

1903 
1910 

1910 
1910 
1906 

1906 
1910 

1906 
1907 

1903 
1826 
1910 
1910 

1910 
1910 

1910 
1910 
1910 

EXTERNAL  DEBT. 
(^Condores  Bonds.                                      

Per  cent 
4 
6 
5 
4 
6 

Per  cent 
1 
1 

1 
4 

Dollars 
351,614 
2,164,228 
10,467,578 
946,648 
116,393 
6,200 

Guayaquil  Railway  —  Prior  Lien  Bonds  

"        —  Ordinary          "       
(J)Salt  Certificates 

0)Speyer  &  Co.  Loan  —  Series  L.  Ceitificates..  . 

Total  External  Debt  

INTERNAL  DEBT. 
Inscribed  Debt—  Seiies  A,  B,  C  and  D  
Compania      Nacional     Comercial  —  Bonds     of 
Series  H  

6 

9 
10 

12 

7 
7 

9 
7 

9 
2 

9 

I 

— 

13,052,661 

923,169 

19,480 
95,528 
14,017 

245,303 
1,074,088 

409,777 
1,394,468 

269,122 
5,100 
505,804 
48,700 

2,595 
3,978 
50,255 
58 
622,279 
23,246 
14,610 

Banco  del  Pichincha  —  Consolidated  Loans..  .  . 
Banco  Comercial  y  Agricola 

Banco  Comercial  y  Agricola 
—  Consolidated  Debt 

Banco  Comercial  y  Agricola 
—  Loans  Guaranteed  by  Patriotic  Taxes  .  . 
Banco  del  Ecuador  —  Consolidated  Debt  
Compania      Nacional      Comercial  —  Loan      of 
600,000  sucres  

Smaller  Certificates  of  25  sucres              

Column  "  Ninth  of  October  "  
Discount  of  25  per  cent,  and   10  per  cent  of 
Salaries  of  1910  
School  of  Agriculture  in  Ambato 

Bills  and  Promissory  Notes  
Public  Instruction 

Guayaquil  Canal  Boaid  

Voluntary  Loans        ... 

Flores  Road  

Total  Internal  Debt  

5,721,577 

(l)   Issued  in  London. 


31 


32 
BUDGET 


Revenue.  . .  . 
Expenditure. 


1914 

,$10,218,000. 

$10,218,000. 


FOREIGN  TRADE 


Countries. 

1910 

1911 

1912 

Imports  from  — 
United  States  
United  Kingdom 

$  2,254,303 
2,483,945 

$  2,593,493 
2  850,326 

$  2,764,109 
3,219  238 

Germany 

1  574  135 

2  386  473 

2  166  021 

France  
Italy  .    . 

526,615 
337  146 

715,896 
502  500 

633,800 
507  117 

Spain  

271,949 

444,976 

395,104 

Peru  

59,886 

275  730 

181,467 

Chile 

53  946 

49  792 

85  724 

Other  countries  

462,180 

1,498,759 

700,263 

Total  Imports  ...    . 

United  States 

$  4  090  511 

$  3  209  478 

$  3  965  442 

United  Kingdom  

1,140,873 

1,021,985 

2,060,161 

Germany  .... 

2,248  223 

2  197  023 

1  529  558 

France.  .  . 

4,793,999 

4,630,247 

4,105,293 

Italy  

150,485 

140,289 

150  662 

Spain 

400  478 

481  674 

420  152 

Peru..  . 

72,102 

98,496 

146  122 

Chile  

383  860 

932  623 

633  556 

Other  countries  

385,840 

846,218 

706,938 

Total  Exports 

$13  666  371 

$13  558  033 

$13  717  884 

ARTICLES  OF  IMPORT 
(1912) 


Articles. 

Value. 

Articles. 

Value. 

Animals,  live     .      .    . 

$47  111 

Jewelry 

$19  807 

Arms  and  ammunition  
Boats,  launches,  etc.  ... 

49,521 
10,390 

Leather  
Lumber  rough  and  finished 

26,569 
94  594 

Books,  blank  and  printed.  .  .  . 

34,135 

Matches  

26,917 

Boots,  shoes,  and  findings  
Candles  

234,302 
155  938 

Mineral  products  

206.445 
53  699 

Carriages  in  general  
Cement  ,  stone,  and  earth  .  .  . 

76,809 
56,423 

Oils  in  general  
Paints  and  varnishes 

115,092 
41  063 

Clothing,  ready-made  

624,959 

Paper  in  general  

171,167 

Cordage,  twine,  and  thread.... 

166,328 

Perfumery           

79,065 

Crockery  and  glassware.... 

161  102 

Textiles- 

Drugs  and  medicines  

436,229 

Silk     fabrics,    pure  and 

Foodstuffs  

1,849,847 

mixed           

18,143 

Gold  and  silver  coins.  . 

285  333 

All  other 

2  784  944 

Hats  and  caps  

146,185 

Vegetable  products  

54,899 

Iron  and  steel,  and  manufac- 

Wines and  liquors          .  .    . 

375,574 

tures  of: 

830  728 

798  971 

620  554 

Total 

10,652,843 

33 


ARTICLES  OF  EXPORT 


Articles. 

1911 

1912 

Articles 

1911 

1912 

Cocoa  beans 

$8,012,296 
1.119,558 
71,930 

37.321 
225.750 

1,404,501 
209,996 

$7,653,505 
783,787 
27.292 

1,957 
304.567 

1,372.051 
294.899 

Ivory  nuts  (tagua)  . 
Rubber  
All  other  products. 

Total  
Gold  coin 

$868.964 
682.557 
924,515 

$936,511 
698,965 
1,535,749 

Coffee  
Fresh  fruits 

Gold     bullion    and 
dust  
Gold  ore  and  bars.  . 
Hats           (Panama 

$13,557,388 
645 

$13,609,283 
108.601 

Grand  total. 

Hides  of  neat  cattle 

$13,558,033 

$13,717,884 

RAILWAYS 


There  are  in  operation  about  310  miles  of  railways,  the  mos} 
important  line  being  the  Guayaquil — Tuito  Railway,  about 
285  miles  in  legnth. 


PARAGUAY 


Area 171,000  Square  Miles 

Population 800,000 

Currency — Gold  Peso     $0.965 


*DEBT 


External  Debt, 
Internal  Debt. 


Total  Debt. 


£730,550 
572.212 


£1,302,762 


*As  of  December  31,  1913. 


SUMMARY  OF  PUBLIC  DEBT  AS  OF  DECEMBER  31,  1913. 


Year  of 
Issue. 

Rate  of 
Interest 

Sinking 
Fund 

Loan. 

Amount 
Outstand- 
ing. 

External 

Debt:— 

* 
1886-1896 

3% 

\% 

External    Debt    of    1886-1896.  (Original    Issue 
£994,600)  

£    730,550 

Total  External  Debt 

£    730  550 

Internal 

Debt:— 

New  Building  for  Central  Post  and  Telegraph 
Office  
Floating  Debt,  so  far  as  entered  in  the  Govern- 
ment Accounts,  viz.:  — 
(a)  Debt  of  Revolution  of  1904   

£      25,000 
42,575 

(b)  Treasury  Notes  issued  during  1905-09.  .  . 
(c)  Debit  Balances  of  Administration  of  pre- 
vious Governments,  1910  to  March  1912. 
(d)  Overdraft  at  Banco  de  la  Republica,  31st 
March  1912,  less  interest  
Loan  from  the  Banco  de  la  Republica  for  $500,- 
000.  Gold,  January  1912,  guaranteed  by  de- 
posit with  the  Bank  of  $10,000,000.  Paper; 
balance  of  capital   with  interest  at  9  per 
cent  

136,080 
155,193 
111,364 

102,000 

Total  Internal  Debt 

£    572  212 

Total  External  and  Internal  Debt     

£1,302,762 

*Issued  in  London. 


34 


35 

BUDGET 


1913 


Revenue £938,776. 

Expenditures £1,016,538. 

FOREIGN  TRADE 


Countries 

1907 

1908 

1909 

1910 

1911 

1912 

Imported  from  — 
United  States 

5391,377 
1  1,036,781 
700,197 
2,201,869 
488,931 
348,098 
1,682,042 
403,272 

$7,249,567 

$214,967 
739,691 
255,059 
1,150,878 
279,570 
203,189 
726,362 
360,684 

$202,766 
568,085 
234,899 
733,081 
254,330 
178,580 
1,244,533 
239,099 

$307,674 
672,683 
286,669 
1,101,443 
332,523 
362,806 
2,603,232 
527,704 

$6,194,734 

$375,895 
747,836 
416,400 
1.754,049 
339,540 
399,148 
1,785.445 
964,517 

$6,782,830 

* 

$304,888 
678.410 
364,889 
1,500,958 
306,610 
321,203 
1,295,248 
318,219 

$5,090,425 

$22,896 
4,064,302 

$4,087,198 

Argentina  

France 

Germany.  .  . 

Italy 

Spain  

United  Kingdom  
All  other  Countries.  .  . 

Total 

$3,930,400 

$3,655,373 

Exports  to  — 
United  States  
All  other  Countries.  .  . 

Total  Exports  — 

*Approximately  95%  of  this  amount  is  credited  to  Uruguay,  Buenos  Aires  and  Germany. 


EXPORTS  AND  IMPORTS  FOR  1912 


Articles  of  Import 

Value 

Articles  of  Export 

Value 

Beverages  

$281,844 

Live  Animals  

$46,937 

Drugs.  . 

215  039 

Hides 

1  044  753 

Government     Supplies     (for 
Public  works) 

119,499 

Oranges,       tangerines       and 
essence  of  petit  grain 

1,238  749 

Haberdashery    (small    wares 

Timber  

846,341 

sold  by  dry  good  stores)  . 

380,518 

Tobacco 

426,955 

Hardware 

836  621 

Yerba  mat  6 

483  463 

1  171  578 

Textiles 

1  462  367 

Total  Exports 

$4  087  198 

Ammunition  

30,282 

Footwear  . 

6  532 

Furniture  

4,835 

Sundries 

581,310 

Total  Imports 

$5,090  425 

RAILWAYS 


Except  for  the  single  railroad,  transportation  is  altogether 
by  muleback,  rude  carts  or  by  boat,  there  being  practically 
no  good  roads.  This  railway,  from  Asuncion  to  Villa  Encar- 
nacion,  is  of  the  same  gauge  as  the  railway  with  which  it  con- 
nects in  Argentine,  and  through  trains  can  be  run. 


36 

A  projected  road,  which  will  be  of  great  importance  when  built, 
is  the  Trans-Paraguayan  Railway,  running  east  to  the  Brazilian 
frontier,  and  connecting  there  with  a  road  to  Sao  Francisco, 
on  the  Atlantic  coast. 

The  Farquhar  Syndicate  controls  the  Paraguay  Central,  and 
is  interested  in  the  Trans-Paraguayan  line.  It  is  also  building 
a  line  running  west  from  Asuncion  to  connect  with  an  Argentine 
line  which  will  afford  direct  rail  communication  with  the  west 
coast. 


PERU 


Area  (Estimated) 440,000  Square  Miles 

Estimated  Population 4,500,000 

(over  one-half  are  Indians  and  one-quarter  half-breeds). 
Currency — Libra,  or  Peruvian  Pound  =  $4.8665 

DEBT 


External  Debt  (Approx.) £1,223,577 

Internal  Debt  (Approx.) £3,572,133 


Total  Debt  (Approx.) £4,795,710 


PERU — FEDERAL  GOVERNMENT  OBLIGATIONS 


Year 
Issue 


External 


Rate 
Interest 


Debt: 


Loan. 


tl909  5*%         (Redeemable  in  28*  years.    £600,000.  was  used 

in  paying  off  a  GermanLoan  contracted  in!905.)  *£  1,143 ,577, 

Guadeloupe  Government  College 80,000. 

Total  External  Debt £1,223,577. 

Internal      Debt: 
1889  1   % 

'  £2,600,645 .  \  These  loans  were  unified  and 

£3,900,240.  /      amount  now  outstanding  is.  £    620,401, 
1898 

Debit  balances  of  budgets  to  Sept.  24,  1912. . .  207,148. 

Treasury  Notes 156,861 

Huacho  Railway 72,033 . 

Cia  Nacional  de  Recaudacion  (Tax  Collecting 

Co.) 636,542 , 

Banks  of  Peru  y  Londres,  Aleman  Transatlan- 

tico,  Popular  del  Peru  and  Deutsche  Bank.  386,010. 

Such  &  Go's.  Claim 130,000. 

Schneider  et  Cie.,  balance 411,368 

Balance  of  Purchase  (Comandante  Aguirre)  .  .  112,000. 

Herklotz  &  Co 21,380. 

Paul  Remant 6,513 . 

Balance  due  U.  S.  A.  (War  Materials) 862,500 . 

Balance  under  contracts  of  War  and  Marine.  .  9,906. 

Balance  due  Ministry  of  Fomento 31,630. 

Claims  against  Public  Health  Department 7,841 

Total  Internal  Debt. . .                                 . .  £3,572,133 


Amount 
Outstanding 


*  Original  Amount  £2,000,000. 
f  Issued  in  Paris. 


38 


In  addition  to  the  above  the  Peruvian  Government  has  con- 
tracted to  issue  bonds  in  connection  with  the  construction  of  the 
following  Railways: 

Ucayali  Railway £2,000,000. 

Extension  of  same  to  the  Coast 475,000. 

Lima— Huacho  Railway 830,513. 

Magdalena — Chilete  Railway 149,531. 

Huancayo — Ayacucho   Railway   Sur- 
vey... 12,000. 


£3,467,044. 

The  Service  of  interest  and  amortization  on  the  above  Railway 
bonds  will  involve  a  sum  of  £253,080. 


BUDGET 


1910-1911 

Revenue £2,795,775 

Expenditures.  .£2,685,322 

"Estimated. 


*1911-1912 


£2,784,513 
£2,784,513 


"1912-1913 

£7,500,000 
£7,500,000 


FOREIGN  TRADE 


Countries. 

1910 

1911 

1912 

Imports  from  — 
United  States 

$  4,484,214 

$  6,082,352 

$  5  763  423 

United  Kingdom  

8,134,189 

8,375,581 

6,800,708 

Germany  

3,842,855 

4,608,026 

4,557,698 

France 

2  361,492 

1  410  009 

1  552  031 

Italy  

805,461 

971,323 

1,235,329 

Belgium   

1,217,892 

1,626,494 

1,192  277 

Other  countries  

3,360,085 

3,410,472 

3,926,348 

Total  Imports 

$24,206,188 

$26  484  257 

$25  027  814 

Exports  to  — 
United  States 

$  9  878  327 

$10,187,998 

United  Kingdom.    . 

12,234,119 

11,983,201 

Chile  

4,532,791 

6,370,163 

Germany 

1  740  884 

2  811  486 

France  

3,750,560 

1,902,394 

Belgium  

516,186 

494,640 

Other  countries 

1  773  117 

2  340  213 

Total  Exports. 

$34,425  984 

$36,090,095 

*$45,878  004 

*  Details  not  available. 


39 


ARTICLES  OF  IMPORT 


Articles  and  countries 

1910 

1911 

Articles  and  countries 

1910 

1911 

Cotton    textiles    and 
manufactures: 
United  Kingdom.... 
Germany 

$1.770.615 
438,676 
224,175 
132,222 
149,202 
60,811 
59,629 
11,986 
14,337 

$2.131.482 
535.076 
404.303 
169,378 
139,605 
130.091 
99.281 
8,189 
12.064 

Wearing  apparel  and 
notions  —  continued 
Germany  
United  Kingdom.... 
United  States  
Other  countries.  .  .  . 

Total  

Furniture  : 
Germany  
United  States  
United  Kingdom.... 
France  
Hongkong  
Other  countries.  .  .  . 

Total  

Metals  and  manufac- 
tures: 
United  Kingdom.... 
United  States  
Germany  

$118,796 
258,955 
58,081 
145,483 

$12.472 
10.769 
2.331 
3.526 

Italy  
Belgium  
United  States.  .    .  . 
Spain  
France 

814,530 

53,574 
40,226 
44,007 
10,818 

6,732 

102,969 

49,516 
45,004 
42,912 
22,123 
4.540 
7,536 

Japan  
Other  countries.    .  . 

Total  

Wool       and      animal 
hair    and    manu- 
factures:    
United  Kingdom.... 
Germany  

2.861,653 

532,944 
277.565 
92,726 
61,532 
42,153 

2,501 
29,026 

3.629,469 

638,459 
577,760 
159,246 
84,559 
77.513 
8.189 
6,856 
10,138 

155,357 

1.270.759 
498.529 
205,570 
165.188 
36.814 

171,631 

1,948.984 
1,579,651 
616.240 
490,747 
182,843 
24.424 
18,925 
12,432 

Belgium  
Italy  

France  
Spain  
United  States  
Other  countries..  .  . 

Total  

Linen,  hemp,  jute  and 
other    textile    fi- 
bers  and   manu- 
factures: 
United  Kingdom.... 
B.itish  India  
Germany  
Australia 

Belgium  

France  

1.038,447 

249,441 
88.969 
31.194 
19,636 
16.088 
13,820 
5,133 

1.562,720 

280,042 
188,683 
55.531 
42,027 
20.113 
16.998 
13.971 
10.390 
10.283 
6.910 
1,230 

Italy  

Other  countries.  .  .  . 
Total  

Stones,     earth,     coal 
glass  and  china- 
ware: 
United  Kingdom.... 
Germany 

9.166 

2.186,026 

272,100 
142,845 
67.955 
51.925 
26.916 
15.178 

4.874,246 

935.964 
476.249 
237.524 
127,507 
59.604 
60.305 
33.194 
32.011 
14.044 
12.672 

France  
Belgium  
United  States    
Spain  

Belgium  
United  States  
Australia  
France 

Italy  
Chile  

11,338 
16.321 
4.245 

Chile  
Japan 

Other  countries  .  .  . 
Total  

Silk,       animal      and 
vegetable        and 
manufactures  
Germany  
United  Kingdom... 
France  
Italy  
Belgium  

Italy  
Other  countries..  .  . 

Total 

17.237 

456.185 

121,146 
63,633 
58,120 
23.539 
7,425 

646.178 

161.299 
66,792 
63,964 
20,157 
19,032 
10,399 
5.742 
4.847 
4,053 

594,156 

322.726 
17.421 
15.183 
16.059 

1,989,074 

1,530,689 
49,034 
53,137 
36,035 
23.943 
17,601 
16,063 
8,939 
5,999 
5.693 
5,596 
13.187 

Woods,   lumber,   and 
manufactures: 
United  States  
Chile  
Germany  
Ecuador  

Hongkong  
Japan 

Japan  
United  Kingdom.  .. 
Hongkong  
Belgium  

i'7,333 

United  States.  .    .  . 
Other  countries.    .  . 

Total  . 

26.613 

300.476 

58,957 
37.481 
40,727 
14.108 

356.285 

163.144 
139.040 
100,897 
52,626 
22,814 
10.745 
4.618 
13.935 

Spain  -.  ..    . 
Italy  
Other  countries..    . 

Total 

48,542 

Hides,      skins,      and 
leather  goods: 
United  Kingdom... 
United  States  
Germany  
France 

437.264 

213,200 
67.604 
62,403 
16.433 
15.985 

1,765,916 

491,146 
223,551 
152,262 
72.282 
43.812 
22.760 
19,397 
6,467 
4,960 

Paints,      dyes,      var- 
nishes,    bitumen 
gum: 
United  States  
Germany 

Japan  
Italy  

Spain  
Other  countries..  .  . 

Total  

Wearing  apparel  and 
notions: 
Italy  
France  .  . 

iV.988 

United  Kingdom.... 
Belgium  
Salvador  
Mexico 

169.261 

108,746 
124,469 

507,819 

47.705 
26.166 

France  
Italy 

Other  countries..  .  . 
Total  .  . 

12.896 

388,521 

1.036.637 

40 


Articles  and  countries 

1910 

1911 

Articles  and  countries 

1910 

1911 

Live  animals: 
Chile  
Ecuador  

$10,088 
3*5,218 

$44.425 
10,292 
5,313 
3,309 
1,747 
786 

Dry    goods  and  mis- 
cellaneous   artic- 
les —  continued 
Italy 

$62.563 
55,146 

$17,509 
16.020 
11.927 
11,810 
9,425 
7,922 
3,314 

1,327.235 

173.850 
87,241 
118.708 
63.736 
43.350 
51,224 
25.417 
10.331 
4,185 
1,878 

United  States  
Germany  
United  Kingdom.... 
Other  countries.  .  .  . 

Total  

Stationery,        paper, 
and  cardboard: 

Mexico  
Ecuador  
Japan 

Hongkong  
Spain  .    . 

42,353 
37,349 
156,830 

8,465,908 

160,715 
88,049 
82,375 
69,449 
45,447 
31,919 
25,111 
16.394 

45.306 

154,574 
21.689 
35,680 
46,829 
28,424 
16,706 
14,667 

4,897 

65,872 

422,898 
108,503 
98,794 
97,310 
57,458 
36,999 
26,361 
5,201 
5,880 

Other  countries..  .  . 
Total            .    . 

Beverages: 
France. 

Spain  
United  Kingdom.... 
United  States  
Belgium  

Germany  
United  Kingdom.... 
Portugal.... 

Italy         

Italy  
Spain 

Hongkong.  .  .  
Other  countries..  .  . 

Total     . 

Belgium  

United  States  
Hongkong 

323.466 

436.758 
269,136 
77,644 
35,685 
57,998 

859,404 

749,864 
809,800 
225.503 
172,842 
49,253 
11,733 
4,550 
10,725 

Tools,    ships'    stores, 
machines,       and 
vehicles: 
United  States  
United  Kingdom.... 
Germany  
Belgium             .... 

Other  countries..  .  . 
Total  

Comestibles  and  con- 
diments: 
Australia  
Hongkong  
United  States  
United  Kingdom.... 

42.752 

562.211 

801,639 
507,400 
547,456 
370,549 
345,219 
182,726 
497,755 

38,065 
56,i54 

579,920 

1,013,886 
626.795 
568.416 
322,906 
273,677 
185,579 
94,935 
89,290 
59,390 
40,552 
28.181 
14.331 
7.586 
6,466 

France  
Italy  

Other  countries..  .  . 
Total  

Musical  instruments: 
Germany  

17,066 

Italy  
Chile 

894,287 

19.986 
7.936 

8J87 

2,034,270 

75,960 
30,532 
11,373 
5,499 
14,168 

France  
Belgium  
Spain  
Portugal  
Brazil 

United  States  
United  Kingdom.... 
France  
Other  countries..  .  . 

Total  

Arms,      ammunition, 
and  explosives: 
Germany  
United  Kingdom.... 
United  States  
France  
Hongkong 

Japan  
Other  countries.  .  .  . 

Total  

Medicines  and  phar- 
maceutical    pro- 
ducts: 
United  States  
Germany 

'  227,306 

3,574.269 

118.766 
131,346 
76,106 
144,568 
49,701 

3.331,990 

212.933 
210,426 
177,568 
143,950 
53,793 
12,983 
10,321 
48,925 

36.109 

17.333 
67,225 
39.331 

27,669 

137,532 

172,171 
123,851 
102,317 
76,569 
57,847 
8.968 
9,076 

France  
United  Kingdom.... 
Italy 

Belgium  

Belgium  

Other  countries..  .  . 
Total  

Dry   goods  and  mis- 
cellaneous articles 
United  Kingdom.... 
Germany  

34.778 

Other  countries..  .  . 
Total 

30.877 

185,676 

2,583,430 
1,490,550 
1,801,962 
1,495,523 
143,322 
561,506 
35,374 

550,799 

336,527 
255,510 
205,638 
142,928 
134,417 
96,239 
78,049 

551.364 

870,899 

16.224 
14,959 
14,725 
7,494 
10.888 

Articles  not  classified: 
Germany 

United  Kingdom.... 
United  States  
France 

94,696 
51.229 
52,453 

United  States  
France 

Chile  

Othei  countries..  .  . 
Total  

Belgium  
Cuba. 

198,378 

64,290 

41 


ARTICLES  OF  EXPORT 


Articles. 

1910 

1911 

Articles. 

1910 

1911 

OTHER      THAN      MIN- 
ERALS 

Sugar  

$6,726,237 

$7,087,395 

MINERALS. 

Silver     and     copper 
bars  

$3.094,373 

(t) 

Rubber 

6,222,662 

2,613,733 

Copper    and     silver 

Cotton 

4  938  631 

5  003  998 

bars.. 

2  923  992 

$3  118  516 

Wool: 
Alpaca 

1  293  305 

1 

Copper    and     silver 
matte 

637.097 

225,284 

Sheep  

Llama 

707.520 
344,071 

\  1,972,333 

l 

Copper    and    silver 
ore..                   .... 

601,975 

378,851 

Guano  

883,668 

1,354.775 

Silver  sulphide  

448,122 

546,916 

Straw  hats     

589,225 

2,147,668 

Vanadium  

447.284 

(t) 

Hides  

441,605 

524,900 

Borate  of  lime  

356,076 

330,561 

Cocaine  
Rice 

336,522 
224  997 

366,943 
401  291 

Silver  and  lead  ore.  . 
Silver  bars 

182,571 
156,448 

(t) 
220,50 

Cottonseed  cake.  .  .  . 
Coffee 

132,159 
113,038 

230.515 
247,369 

Copper  ore  

Silver  ore 

144,773 
119,117 

397,26 

280  43 

Cocoa  

98,970 

265,365 

Copper  matte  

50,358 

132,85 

Charcoal            .    . 

51,983 

102,643 

Lead  ore 

19,348 

158,06 

Raw    sugar    (Chan- 
caca)   

45,379 

500,441 

Copper  bars  
Petrbleum 

533,440 

2.774,34 
849,35 

Vegetables  and  gar- 

Gasoline   

46,464 

1,092,47 

den  stuff  

41,598 

99,495 

All  other  

174,112 

(*) 

erals  

1,298,864 

(*) 

Total  min.  exports.  . 

9,935,550 

(*) 

Total  

24,490,434 

(*) 

Grand  total  exports. 

34,425,984 

36,090.095 

*Total  of  nonmineral  and  of  mineral  exports  for  1911  not  stated  separately. 
tNot  given  separately. 


RAILWAYS 


In  1913  there  were  in  operation  1,840  miles  of  railway,  the 
greater  part  of  which  is  under  the  control  of  the  Peruvian  Cor- 
poration. This  Corporation  was  formed  by  the  European 
bondholders  when  the  revenue  of  the  country  was  insufficient 
to  meet  the  interest  on  the  national  debt,  the  bondholders 
agreeing  to  cancel  the  foreign  debt  in  return  for  certain  con- 
cessions. 

The  most  important  railways  are  the  Central  Railway  (249 
miles);  the  Southern  Railway  (537  miles);  the  Northwestern 
Railway  (123  miles),  running  from  Ancon  to  Sayan,  north  of 
Lima;  Pacasmayo  and  Guadeloupe  Railway  (98  miles);  Paita- 
Piura  Railway  (60  miles) ;  Trujillo  Railway  (72  miles) ;  Chimbote 
Railway  (65  miles);  Pisco-Ita  Railway  (46  miles),  and  the 
Ilo-Moquega  Railway  (162  miles). 


URUGUAY 


Area. 72,000  Square  Miles 

Population 1,300,000 

Currency— Peso  =  100  Centisimos  =  $1.034 

DEBT 


Debt. 

Am't. 
Outstanding 

•^External  Debt 

£26,320,708 

t  Internal  Debt  

2,269,473 

Total  Debt 

£28  590  181 

••Outstanding  Dec.  31,  1913. 
fOutstanding  Jan.  1,  1913. 


URUGUAY — SUMMARY  OF  PUBLIC  DEBT 


Year 
Issue 

Rate 
interest 

Sink- 
ing 
Fund 

Loan. 

Original 
Amount 

Amount 
Outstand- 
ing 

*Exter 

nal  Deb 

t:  — 

1% 
1% 

w. 

1% 

(i)   New  Consolidated  3*%  External  debt. 
(')  Five  Per  Cent.  Loan  of  1896 

£20,500,000 
1,667,000 

6,912,836 
1,276,672 
1,000,000 

£16,756,280 
1,001,440 

6,346,278 
1,216,710 
1,000,000 

1891-96 
1896 
1905 

1909 
1913 

tlnter 

3i% 

5% 
5% 

5% 
5% 

nal  Deb 

Five  Per  Cent.  Conversion  Loan  of 
1905  

(2)  Five  Per  Cent.  Public  Works  Loan  of 
1909  

0)  Uruguay  Five  Per  cent.  Golds  Bonds 
(Authorized  Amount  £2,000,000.)  

Total  External  Debt 

£31,356,508 

£26,320,708 

£     579,000 
416,064 
43,165 
266,401 

46,936 
631,851 
237,237 

48,819 

1912 
1912 

4% 
4% 

5% 

5% 
5% 
5% 

¥° 

i 

Internal  Unified  Debt  

Liquidation  Debt            .... 

Amortizable  Debt  —  Second  Series.  .  .  . 
Uruguayan    Eastern    Railway    Guar- 

Banco  de  Seguros  del  Estado  Debt..  .  . 
State  Lands  Bonds  Redemption  Debt 
Brazilian  International  Debt  

£  2,269,473 

*As  of  December  31st,   1913. 
fAs  of  January  1st,  1913. 
0)   Issued  in  London. 
(2)   Issued  in  Paris. 


BUDGET 


1912 


1913 


Revenue $35,142,360       £7,215,284 

Expenditures $35,133,812       £7,213,548 

42 


43 


FOREIGN  TRADE 


Countries 

1911 

Countries 

1911 

Imported  from  — 
United  States  

$5,671,318 

Belgium 

$  3  333  938 

United  Kingdom  
Germany  

12,648,379 
7,894,644 

Spain  
Brazil  .    . 

2.143,455 
2  071  535 

Argentina  

4,173,155 

All  other  Countries 

1  352  972 

France 

3  952  473 

Italy  

3,348,233 

Total 

$46  590  102 

Countries. 

1910 

1911 

1912 

Exported  to  — 
United  States 

$  2  892  760 

$   1  656  846 

$  2  727  371 

Argentina  

6  056  857 

5  020  125 

7  308  823 

Austria-Hungary 

330  817 

792  085 

799  437 

Belgium  

8,016  520 

7  460  044 

7  853  895 

Brazil  

4  241  226 

3  347  262 

3  784  318 

Cuba 

1  059  409 

1  867  573 

965  711 

France  

9  191  260 

10  060  148 

8  750  361 

Germany 

4  163  898 

6  879  394 

7  860  272 

Italy  

1  640  529 

1  369  170 

1  297  537 

Portugal 

194  495 

215  308 

1  203  261 

Spain  

596  305 

604  681 

642  990 

United  Kingdom  &  Colonies  
All  other  countries  

3,590,027 
445  246 

4,159,170 
444  718 

6.546,592 
664  435 

$42,419,349 

$43,876,524 

$50.405,003 

ARTICLES  OF  IMPORT 
(1911) 


Articles. 

Value. 

Articles. 

Value. 

Beverages  

$2  224  582 

Chemical  products,  etc.  .  . 

1,433,804 

Continued  ' 

Chalk  

52  661 

$76  279 

Cement,  Portland.. 

981  279 

692  365 

Coal 

2  742  100 

144  qc;fi 

Chinaware  

187,546 

For  roofs  

692,365 

Food  products: 
Cheese  

113  573 

Iron  in  bars  and  sheets. 

697.835 
634  419 

Coffee 

365  174 

Nails 

QQ  QQQ 

Codfish  

90  894 

Chocolate  

129,899 

82  818 

Sardines  
Canned  goods  

91.011 
89,599 

Galvanized  iron.  . 
Rails 

81.450 
53  998 

Fruits  

370  006 

50  125 

Indian  corn  

317  804 

905  318 

Oils 

737  926 

Potatoes.  .  . 

978  165 

749  770 

Peas 

113  028 

Oils- 

Wheat  

109  620 

283  636 

Yerba  mat6  

1,236,542 

129  168 

Sugar,   refined   and  Un- 

Gasoline   

45,009 

refined 

2  338  379 

85  784 

Rice  
Glass  bottles  and  flasks  
Glass,  window  

637,092 
97,323 
307,585 

Paints,  dyes,  inks,  etc  
Paper,  and  manufactures  of.  . 

378.382 
1.031,812 
59  749 

Hides  and  skins  and  manu- 

Sulphur. .  .  . 

79  996 

factures 

66  805 

Iron,  steel  and  manufactures: 

Cotton  

5  370  078 

Agricultural     machinery 

Linen.  .  . 

249,387 

and  implements  

552,319 

Silk  

318,090 

Beams.    .  . 

555  211 

Woolen 

1  773  931 

Carriage  springs  
Enameled  ware 

76,135 
150  108 

Tobacco  

1,321,860 

Cutlery  
Fence  wire  

63,195 
848.326 

Furniture  
Other  

258.841 
2.680.597 

44 


ARTICLES  OF  EXPORT 
(1912) 


Articles. 

Value. 

Articles. 

Value. 

Live-stock  products: 
Bones  and  ash  

$198,487 

Mineral  products: 
Stone,  etc 

$723  539 

Fat                 

1,808,375 

Sand  etc 

1  540  749 

9  295  055 

Hair  

224,727 

Total 

$2  264  288 

Live  animals           .         .  . 

1,067,721 

Meat  and  extracts.  .  . 

5,920,302 

Game  and  fish: 



Wool     

26,781,539 

Game 

107  771 

Other  products  

11,631 

Fish  

3,583 

226  460 

Total 

$111  354 

Total 

$45,534  297 

Agricultural  products: 

Other  products 

137  369 

Flour  and  pastes  

892,319 
103  516 

Ships'  stores  

236,626 

Grain  and  seeds  
Hay  and  fodder..        .    . 

916,891 
200,271 

Total  customs  value.... 

$50,405.003 

8  072 

4  440  278 

Total  

$2,121,069 

True  total  value  

$54,845,281 

RAILWAYS 


At  the  beginning  of  1913  there  were  1 ,570  miles  of  railways 
in  operation,  all  of  4  foot  81/2  inch  gauge,  and  practically  all 
British  built.  Formerly  these  were  all  British  owned, but  the  Far- 
quhar  Syndicate,  acting  through  its  subsidiary  concern,  the 
Uruguay  Co.,  entered  the  field  in  1912,  and  now  controls  the 
Midland  Line,  the  Northern  and  the  Northwestern. 

The  level  character  of  the  country  permits  of  easy  railroad  con- 
struction. The  railway  center  is  Montevideo  and  from  it 
lines  run  to  the  northeast,  north  and  northwest. 

There  are  five  separate  systems  or  lines, — The  Central  Uruguay 
Railway  Co., — the  Midland  Uruguay  Railway  Co., — the  North- 
western of  Uruguay, — the  Uruguay  Northern  and  the  Uruguay 
East  Coast  Railway. 

All  the  Uruguayan  lines  operate  at  a  profit,  that  of  the  Central 
Uruguay  Railway  Co.,  in  1911-12  being  $1,500,000.  Of  the  total 
length  of  1,570  miles — about  1,033  miles  are  operated  under  a 
Government  guarantee.  In  1911  the  Pan-American  Railway 
line  was  projected  by  Americans  and  work  begun  on  it,  but 
the  terms  of  contract  were  not  satisfactory  to  the  Govern- 
ment, and  the  concession  was,  therefore  withdrawn  by  agree- 
ment and  the  completed  section  turned  over  to  the  Government. 

The  Uruguay  Co.  is  organized  under  the  laws  of  State  of 
Maine,  and  a  contract  has  been  signed  to  construct  three  lines, 


45 

one  of  205  miles  from  Montevideo  to  the  junction  of  the  Mid- 
land Railway  and  the  Central  Uruguay  Railway,  another  of  a  few 
miles  to  connect  this  line  with  the  East  Coast  of  Uruguay  line  at 
Olmos,  and  another  of  50  miles  from  San  Carlos  to  Rocha.  These 
lines  will  furnish  the  Midland  system  with  independent  access  to 
Montevideo  and  establish  a  coast  route  to  Paloma. 


VENEZUELA 


Area 394,000  Squares  Miles 

Population 2,743,000 

Currency — Bolivar  =  100  centimes  =  $0.193 

DEBT 


Amount 
Outstanding 

*External  Debt  

£4.086,640 

flnternal  Debt              .    .             

£2,477,707 

Total  

£6.564,347 

*As  of  December  31,  1913. 
fAs  of  December  31,  1912. 


VENEZUELA — SUMMARY  OF  PUBLIC  DEBT 


Year 
Issue 

Interest 
Rate 

Sink- 
ing 
Fund 

Loan. 

Original 
Issue 

Amount 
Outstand- 
ing 

*Ext 

ernal   D 

ebt:— 

Three  Per  Cent.  Diplomatic  Debt.  .  .  . 
Total  External  Debt  

(a) 
£  5,229,700  £  4,086,640 

1905 
tlnte 

3% 
rnal   De 

1% 
bt:— 

£  5,229,700   £  4,086,640 

National   Internal   3%    Consolidated 
Debt  

£  2,419,755 
57,952 

3% 

National  Internal  Convertible  Debt.  . 

£  2,477,707 

*As  of  December  31,  1913. 
tAs  of  December  31,  1912. 
(a)  Issued  in  London  and  Berlin. 


BUDGET 


July  1  -1913 

to 
June  30-1914 


Revenue $10,080,000 

Expenditures $10,080,000 

46 


47 


FOREIGN  TRADE 


Countries 

1903-4 

1906-7 

1909-10 

1910-11 

1911-12 

Imported  from  — 
United  States 

$  2,855.000 
3,732,000 
2,229,000 
2.660,000 

$  2,534,000 
3,790,000 
1,977,000 
1,673.000 

$  3,560,000 
2,874,000 
2.058,000 
2,440,000 

$  4.025,000 
4,445,000 
2,665,000 
4,340,000 

$  6.236.000 
5,116,000 
3,149,000 
5,895,000 

United  Kingdom  
Germany 

Other  countries  
Total 

$11,476,000 

$  9,974,000 

$10,932,000 

$15,475,000|$20,396.000 

Exported  to  — 
United  States  
France  
Germany 

$3,975,000 
5,470,000 
780,000 
5,349,000 

$  5,754,000 
3,931,000 
966,000 
4,986,000 

$  5,975,000 
5,535,000 
1,603.000 
3.566,000 

$  6,098,000 
5,164,000 
3.037,000 
4,407.000 

$  8,368,000 
7,517,000 
4,360,000 
5,487,000 

Other  countries  
Total 

$15,574,000 

$15,637,000 

$16,679,000 

$18.706.000 

$25,732,000 

ARTICLES  OF  IMPORT 


Articles 

United 
States. 

United 
King- 
dom. 

Germany 

France. 

Nether- 
lands. 

All  other 

Total 

Agricultural    imple- 
ments and   acces- 
sories 

$ 
98  438 

$ 
166  525 

1 
36  159 

$ 
408 

$ 
34  770 

$ 
29 

$ 
336  329 

Arms  and  ammuni- 
tion. 

201  728 

10  067 

38  391 

16  429 

17  816 

74  834 

359  265 

Automobiles  and  ac- 
cessories   
Bags  and  bagging.  .  . 
Beer  
Biscuits  
Bottles  
Butter  
Canned  meats  
Carbonic-acid  gas..  . 
Cement  
Cheese  
Coal  

96,593 
6,677 
77 
96,547 
493 
137,977 
95,892 
1.022 
66.461 
990 
11,365 

1,930 
215,460 
8,638 
20,563 
6,884 
2,692 
17,050 
939 
23.246 
461 
81  103 

3,049 
12,213 

58,708 
12,111 
129,871 
168,080 
20,418 
4,585 
25,954 
5,436 
11  742 

16.304 
101 
7 
1,912 
93 
47,443 
16,950 
49 
17 
1,454 

'10,135 
17,617 
2,577 
1,643 
33,718 
10,156 
2,853 
13,874 
55,255 
4  009 

2,658 

'  '987 
316 
1,001 
21,483 

'  '96 
3,678 
4  298 

117,876 
247,244 
85,047 
134,697 
139,300 
390,911 
181,949 
9,448 
129,648 
67,274 
112  517 

Confectionery  
Cotton  goods  
Cotton  knit  goods..  . 
Drugs  and  medicines 
Earthenware        and 
crockery  
Electrical       appara- 
tus and  accessories 
Flour 

32,978 
449,663 
1,363 
287,718 

3,324 

120,585 
1  085  821 

23.480 
2,745,304 
17,826 
32,625 

11.602 

2.626 
11  697 

6,132 
378.992 
114.133 
111.579 

46,280 

8.530 

289 

12,546 
75,396 
26,110 
130,989 

1,387 
76 

6,374 
325,087 
44,657 
37,817 

11,147 
2,625 

16,522 
388,695 
226,667 
34,170 

641 
2.285 

98,032 
4,363,137 
430,756 
634.898 

74,381 

136.727 
1  OQ7  807 

Glassware  
Hams 

22,828 
72  697 

1,929 
795 

39,681 
679 

5,998 
20 

8,244 
309 

744 

58 

79.424 
74  'i'lS 

Hats  
Iron,  and  manufac- 
tures of: 
Domestic  wares.. 
Manufactures,  n. 
e.s  
Tubes  

8.150 

18,609 

176,498 
40,410 

2,619 

23,054 

99,154 
17  486 

203,438 

118,941 

55,367 
7  034 

7,980 

803 
14,311 

12,026 

25.872 
11.011 

31.247 

331 

7.152 
714 

265,460 

187,610 

363.493 
65  644 

Unfinished  
Lamps,         lanterns, 
and  accessories.  .  . 
Lard  
Leather  
Machinery  
Malt 

42,356 

7,345 

382,184 
95.488 
289,850 
125 

17.708 

461 
6,199 
6,607 
90,596 

10,400 
7,442 

'  44,448 
62,944 
48  381 

214 

1,221 
17 
68,008 
20,200 

501 
1,290 

9,736 
16.052 

434 
327 

'  1.099 
7,932 
170 

71,613 

18,086 
388,400 
225,386 
487,574 
48  fi7fi 

Nails,  iron.  .  . 
Oils: 
Benzine,       gaso- 
line and  naptha 
Crude  petroleum 
Engine  
Kerosene  

16.931 

14.957 
970 
15,755 
160,958 

7.528 

672 
427 
5,739 
2  523 

17.130 

1,677 
2.908 

103 

32 
'  '99 

2,808 

47 
2,203 
312 

1.437 
'  1,932 

45.937 

17.385 
3.600 
26.745 
163  481 

Linseed  
Olive  . 

4,298 
279 

1,597 
4  035 

14,548 
2  799 

57 
8  749 

2,374 
5  382 

180  728 

22.874 
201  Q72 

Other  

3,265 

58 

l!946 

34 

'  90 

360 

5,753 

48 


Articles 

United 
States. 

1     United 
I  Kingdom. 

1,268 
4,852 
180 

110 
5,999 
16,664 

426 
82,754 
28,589 
8,241 
268 
1,938 

2,392 
133 
609 
200 
207 
84.255 

994 
2,537 
170,149 
178,356 

Germany 

918 
15.035 
11,257 

617 
53,263 
22,800 

3.021 
23,090 
253.946 
81,780 
5,708 
1,098 

2,946 
668 
161 
3,695 
4,088 
66,239 

3.755 

4.982 
40.553 
767,354 

France. 

Nether- 
lands. 

All  other 

Total 

Olives  and  capers.  .  . 
Paints: 
Ordinary 

$ 
1,286 

31,644 

7,368 

41,368 
26,427 
54,518 

17,095 
41,974 
17,969 
1,663 
27,115 
5,205 

5,171 
8,063 
6,756 
4,698 
942 
13,024 

138,388 
13,762 
4,526 
1,079,696 

$ 
5.072 

407 
1.363 

3 
2,045 
66.381 

$ 
891 

1.751 
2,073 

157 
27,465 
28,527 

1,955 
16,078 
311,139 
38,743 
2,398 
291.085 

205 

"  '95 
335 
2,260 
27,981 

794 
14.167 
167.868 

$ 
13.746 

2.332 
254 

522 
23.068 
3.971 

1,000 
3.030 
108,475 
3,129 
17,236 

2.699 

1.257 
26 
666 
213,335 

'  '13,885 
541,239 

$ 
23.181 

56.021 
22,495 

42.777 
138,267 
192,861 

22,497 
164.896 
614,731 
250,251 
38,741 
318,069 

13,519 
8,879 
9,152 
9,271 
8,732 
564.176 

143,137 
22,075 
292,282 
3,722,473 

Enamel  and  co- 
lors   
Paper: 
Printing  

Other  

Perfumery 

Powder    and    dyna- 
mite   
Railroad  material.  .  . 
Rice  
Sardines. 

"58 
11,349 
123 
1.507 

106 
15 
274 
317 
569 
159,342 

"49.662 
987.960 

1.761.410 

78,744 
778,176 

Spices  
Stearin  and  suet.  .  .  . 
Tobacco     and     pro- 
ducts   
Turpentine  
Vegetables,  dried  .  .  . 
Wall  paper  
Window  glass 

Wines  and  liquors..  . 
Wire: 
Barbed  
Galvanized&plain 
Woolen  goods.  ..... 
All  other  articles.  .  .  . 

Total  .  . 
Coin: 
Gold  ... 

5,718.323 
1,114,115 

4,281.026 
3.860 

3,199.389 

1.666.354 
4.648 

1,962,895 

18,589,397 

1.201.367 
778.176 

Silver  

Total,  1912.. 
Total.  1911.. 

6.832,438 
5.219,577 

4,284,886 
5,253.865 

3.199,389 
3,195.945 

2,618,330 
1,857.564 

1,671.002 
1.340.904 

1,962,895 
1.527,034 

20,568,940 
18.394.889 

ARTICLES  OF  EXPORT 


Articles. 

United 
States 

France 

Germany 

United 
Kingdom. 

Nether- 
lands. 

Other 
countries 

Total. 

Asphalt  
Balata  
Balsam  copaiba  
Cacao  

$ 
294,184 
289,552 
25,575 
385,292 

i  603 

$ 

602,668 
87 
1,081,805 
90,729 

$ 

637,210 
10,668 
82,307 

$ 
9,405 
237,451 
633 
403.738 
111,092 
14,699 
22,657 
320,920 
M.048 
5,533 
1,639 
154 
31 
4,036 
263,647 
11,686 
31.021 
652 

3.339 

408 
27,910 
68,863 

5,968 
22 
27,479 

8,i53 
25.520 

$ 

'  '378 
1,695 
44,487 
4,166 
486 
294.862 

261 
571 
171 
126 
5.333 
155.682 

'  '14,433 
7,981 

'  '87 

32 
5.051 
15,428 
52,418 
29,182 

13,279 
66,241 

•1 

307.846 
90.729 
9 
1.745,551 

$ 
303.589 
1,767,259 
38.658 
2,305,475 
205,987 
16,797 
15,137,994 
320,920 
28.461 
13,902 
80,962 
59.118 
15.027 
553,558 
583,847 
367.491 
1,265.111 
19,144 
42,035 
9,  071 
32.577 
4,211 
27,910 
615,158 
16.634 
21.709 
52.440 
61.301 
145.936 
72.439 
280,578 

Cattle,  young  
Coconuts 

Coffee  

6,174,207 

4,246,624 

2,654,093 

Copper  ore  

Cotton  

2,393 
174 
77,895 
1,649 
9.634 
365,447 
65,493 
76,185 
1.010,636 
655 
42,035 
9,071 
710 
3,088 

402.060 

43 

"193 
2,564 
19 
26,753 
229.348 
213,354 
30,521 
5.005 

'  25,859 
193 

8,624 
2,070 

77 

6.716 

7,585 
1,004 
52,483 
10 
1,640 
24,780 
56,266 
164,373 
4,851 

2,669 
19 

135,579 
9,513 
174 

'  '3 
8,780 
33.950 
44,353 

Cotton  seed  
Deerskins 

39 
2,142 

"579 
'  '14,127 

"  "416 
62 

"742 
70,682 

Divi-divi  
Fish  sounds  .  . 

Goatskins 

Gold  bullion  
Heron  feathers  
Hides,  dry  

Horns  
Iron  ore 

Magnesite  

Pearls  
Plants,  live  
Refrigerated  beef.  .  . 
Rubber 

Sabadilla  
Sole  leather  
Straw,  hat 

Sugar,  crude  
Tonka  beans  
Lumber  
All  other  articles  

Total  
Gold  coin  
Silver  coin  

Grand  total,  1912 
Grand  total,  1911 

4,632 
137,156 
15,068 
26,448 

5 

1,247 
47,334 

9,420,842 
492,933 

6,615,122 
102.579 
196,474 

3,939,086 
3,623 

1,635.704 

712,350 

2,142,195 

24,465.299 
599.135 
196,474 

9,913.775 
7.087,945 

6,914,175 
6.162.171 

3,942,709 
4,269,221 

1,635,704 
2,067,799 

712,350 
1.063.595 

2,142,195 
2,026,243 

25.260,908 
22,676.974 

49 
RAILWAYS 


Railway  building  in  Venezuela  has  not  developed  to  any 
great  extent,  and  the  lines  constructed  are  nearly  all  short  ones, 
built  to  connect  the  interior  with  the  coast  or  lake  ports.  The 
total  mileage  in  1912  was  only  about  528,  and  there  are  small 
prospects  that  construction  will  proceed  much  more  rapidly 
in  the  future  than  in  the  past.  As  the  coast  is  mountainous, 
railway  building  involves  much  tunneling,  bridging,  etc.,  and 
is  accomplished  only  at  considerable  expense.  The  following 
table  shows  the  mileage  of  the  different  lines,  with  their  busi- 
ness and  expenses  for  1912. 


Railways 

Mileage. 

Pas- 
sengers 
carried. 

Freight. 
Tons. 

Gross 
revenue. 

Expenses. 

La  Guaira  and  Caracas  
Great  Railway  of  Venezuela  
Maiquetia  to  Macuto  
Central  Railway  of  Venezuela  
Puerto  Cabello  and  Valencia  
Bolivar  

22.75 
111.00 
4.96 
34.25 
34.00 
109  .  50 
33.75 
8.43 
25.00 
50.50 
71.00 
23.00 

78,565 
194,840 
77,382 
215.367 
28,042 
19,933 
11,594 
-    731 
4,248 
5,974 
8,139 
5,678 

61,570 
46,917 
none 
28.816 
34,861 
38,733 
7,009 
3,207 
2,837 
23,205 
25.390 
11,914 

$494,427 
531,257 
14.633 
122.788 
202,839 
458.399 
32,629 
7.489 
13,544 
201.888 
357.218 
68,909 

$217,257 
299,692 
11,635 
77,866 
107,995 
265,080 
31,889 
7,087 
15,421 
112,405 
167,660 
38.071 

$1.352.058 

Caranero  
La  Vela  &  Coro  

Guanta  

La  Ceiba  
Tachira  
Santa  Barbara  &  El  Vigia 

Total 

528.14 

650,493 

284,459 

$2.506.020 

REMARKS. 

The  Bolivar  line  is  an  English  line,  connecting  the  port  of  Tucacas  with  Barquisimeto, 
with  branch  line  8  miles  to  the  copper  mines  at  Aroa.  The  line  from  Caracas  to  La  Guaira 
is  English,  with  many  curves,  a  gradient  of  4  per  cent  and  a  3  foot  gauge.  From  Caracas 
the  Great  Railway  of  Venezuela,  a  German  road,  leads  111  miles  to  the  important  town 
of  Valencia,  is  of  3-foot  gauge,  and  is  the  longest  line  in  the  country.  It  connects  at  Val- 
encia, with  the  English  railway  of  the  same  gauge  which  runs  33  miles  to  Puerto  Cabello. 
At  the  southern  end  of  Lake  Maracaibo  are  three  lines  (the  last  three  in  the  table  above) 
which  carry  the  traffic  from  the  lake  boats  to  the  coffee  plantations  of  the  interior. 

Some  construction  is  constantly  going  on,  but  no  extensive  increase  in  building  is  looked 
(or,  and  there  seems  to  be  small  prospect  that  Americans  can  dispose  of  much  rolling  stock 
or  other  supplies  in  the  country. 


50 


GRAND  SUMMARY — DISTRIBUTION  OF  TRADE — IMPORTS,  1913, 

LATIN  AMERICAN  IMPORTS  FROM  LEADING  COMMERCIAL  COUNTRIES. 
(From  the  Bulletin  of  the  Pan-American  Union.) 


Countries. 

Total  from 
all  countries. 

United 
Kingdom. 

Germany. 

France. 

United 
States. 

1913 

1913 

1913 

1913 

1913 

Mexico  

$97,886,169 
10,062,328 
6,173,545 
5,132,678 
24,966,820 
8,778,497 
3  10,000,000 
143,758,736 
9,272,278 
8,100,125 

$12,950,047 
1,650,387 
1,603,846 
751,651 
2939,290 
1,303,187 
32.453,118 
16,071,787 
730,191 
593,319 

$12,610,385 
2,043,329 
713,855 
558,327 
2  604,038 
1,355,417 
3970,263 
9,473,543 
1,677,833 
535,544 

$9,168,978 
402,025 
418,111 
148.280 
2256,255 
391,681 
3689,634 
9,202,720 
274,318 
817,335 

$48,643,778 
5,053.060 
2,491,146 
3,463,662 
22,549,026 
4,515,871 
5,483,678 
75.967,525. 
5,769,061 
5,908,956 

Salvador  

Honduras                     .  . 

Nicaragua  

Costa  Rica  

Cuba  
Dominican  Republic.  .  . 
Haiti*  

No.  American  Republics 
Per  cent  of  imports  

304,131,176 
100 

408,711,966 
21,357,505 
326,428,509 
120,274,001 
28,535,800 
'10,354,564 
7,671  551 
29-.-S9  1,462 
50,666,000 
18,030,103 

39,046,823 
12.83 

30,542.534 
10.04 

21,769,337 

7.15 

159,845,763 
52.55 

126,959,989 
33,850,000 
79,881,008 
36,028,943 
5,837,400 
23.058,391 

8i,90o!ooo 

7769,225 
513600,000 
4,296,294 

69,172,279 
37,000,000 
57,043,754 
29.578,138 
4,012,100 
22,105,372 
32,200,000 
5,132,039 
58,600,000 
2,589,986 

36,933,537 
31,100,000 
31,939,752 
6,623,260 
4,408,600 
2616,053 
3537,000 
1  363  191 
s  4,100,000 
1,093,655 

60,171,867 
31,900,000 
51,289,682 
20,089,158 
7,629,500 
22,686,714 
3450,000 
8,530,525 
5  6,  300  ,000 
6,944  J  36 

Bolivia  

Brazil 

Chile  

Colombia       

Ecuador 

Paraguay  

Peru 

Uruguay  

Venezuela 

South        American 
Republics  
Per  cent  of  imports  

Total     of     the     20 
Republics  
Per  cent  of  imports  

1,021,621,451 
100 

283,181,250 
27.73 

187,433,668 
18.35 

88,715,048 
8.68 

165,991,582 
16.25 

1,325,752,627 
100 

322,228,073 
24.32 

217,976,202 
16.45 

110,484,385 
8.34 

325,837,345 
24.59 

2191 2.     'Partly  estimated.     ^Fiscal  year  ending  Sept.  30,  1913.     Estimated. 


51 


GRAND  SUMMARY — DISTRIBUTION  OF  TRADE — EXPORTS,  1913. 

LATIN  AMERICAN  EXPORTS  TO  LEADING  COMMERCIAL  COUNTRIES. 
(From  the  Bulletin  of  the  Pan  American  Union.) 


Countries. 

Total  to 
all  countries. 

United 
Kingdom 

Germany 

France. 

United 
States. 

1913 

1913 

1913 

1913 

1913 

Mexico  

$150,202,808 
14,449,926 
9,928,724 
3,300,254 
2  3,861,516 
10,432,553 
2,467,556 
164,823,059 
10,469,947 
11,315,559 

$15,573,552 
1,600,029 
705,607 
13,467 
2515,381 
4,364,436 
«86,000 
18,427,163 
241,810 
5  800,000 

$8,219,009 
7,653,557 
1,699,694 
176,112 
2  702,256 
509,804 
s  240,000 
4,707,548 
2,068,384 
5  4,200,000 

$3,575,509 
21,268 
2,030,346 
51,500 
2  626,083 
96,665 
59,000 
1,684,548 
887,907 
s  5,000,000 

$116,017,854 
3,923,354 
2,823,851 
2,869,188 
*  1,766,548 
5,297,146 
52,130,000 
131,783,619 
5,600,768 
51,000,000 

Guatemala 

Salvador  
Honduras 

Nicaragua  
Costa  Rica 

Panama  

Cuba 

Dominican  Republic.  .  . 
Haiti4         .... 

North       American 
Republics  
Per  cent  of  exports  

Argentina  
Bolivia 

381,251,902 
100 

468,999,410 
36,551,390 
315,164,687 
144,653,312 
34,315,800 
2  13,689,696 
5,462,001 
44,409,610 
65,142,000 
29,483,789 

42,327,445 
11.10 

30,176,364 
7.91 

13,932,826 
3.65 

273,212,328 
71.66 

22,207,965 
218,195 
102,562,923 
30,418,801 
18,861,800 
2  3,957,306 
570 
14,741,639 
2,972,222 
8,475,251 

116,756,777 
29,548,087 
41,701,815 
55,677,548 
5,566,000 
2  2,042,278 
5200 
16,539,110 
59,000.000 
2,199,053 

56.178,368 
3,109.758 
44,392,410 
30,830,378 
3,216,200 
'1,523,356 
1,198,686 
2,966,884 
s  10,000,000 
5,563,768 

36,586,981 
1,783,017 
38,685,561 
8,858,313 
797,900 
2  4,096,863 
33,069 
1,566,495 
5  12,000,000 
9,988,043 

Brazil.  .  . 

Chile 

Colombia  

Ecuador 

Paraguay  

Peru  

Uruguay  

Venzuela  

South        American 
Republics  
Per  cent  of  exports  

Total  of  the  20 
Republics  
Per  cent  of  exports  

1,157,871,695 
100 

1,539,123,597 
100 

279,030,868 
24.09 

158,979,808 
13.73 

114,396,242 

9.87 

204,416,172 
17.65 

321,358,313 
20.88 

189,156,172 
12.22 

128,329,068 
8.34 

477,628,500 
31.03 

21912     3Partly  estimated.          4Fiscal  year  ending  Sept.  30,  1913.          5Estimated. 


INDEX 

Argentine: —  PAGE 

Area 1 

Budget 3 

Currency 1 

Foreign  trade — Imports  and  Exports 3 

Exports 5 

Imports 3,  4,  5 

Notes  (6%) • 1 

Population 1 

Public  debt h 1,  2 

Railways 6,  7 

Bolivia: — 

Area 8 

Budget 8 

Currency 8 

Foreign  trade 9 

Exports 10 

Imports 9 

Population 8 

Public  debt 8 

Railways 10,  11 

Brazil:— 

Area 12 

Budget 17 

Currency 12 

Foreign  trade — Imports  and'Exports 17 

Exports 21,  22 

Imports 17,  18,  19,  20 

Population 12 

Public  debt 12,  13,  14,  15,  16 

Railways 22 

Chile:— 

Area 23 

Budget 25 

Currency 23 

Foreign  trade — Imports  and  Exports 25 

Exports 26 

Imports 25,  26 

Population 23 

Public  debt 23,  24 

Railways 27 

53 


54 


Colombia: — 

Area 28 

Budget 29 

Currency 28 

Foreign  trade — Imports  and  Exports 29 

Exports 29 

Imports 29 

Population 28 

Public  debt 28 

Railways 30 

Ecuador: — 

Area 31 

Budget 32 

Currency 31 

Foreign  trade — Imports  and  Exports 32 

Exports 33 

Imports 32 

Population 31 

Public  debt 31 

Railways 33 

Exports  of  Latin  America — 

Grand  Summary 51 

Foreword     vii 

Imports  of  Latin  America — 

Grand  Summary 50 

Latin-American  Trade  Committee,  Report  of, ix 

American  Exports xiii 

Commercial  Credits,  Establishment  of xvii 

Co-operative  Clearing  House xviii 

Effect  of  the  war  on  South  American  Countries xiv 

Extension  of  trade xix,  xx 

Members  of  the  Committee *. ix,     x 

Necessity  of  new  credit  system  and  dollar  exchange xvi,  xvii 

Problems,  present xv,  xvi 

Report  and  Recommendations xi,  xix 

Settlements  of  trade  balances xiv 

South  American  trade  conditions xii,  xiii 

National  Foreign  Trade  Council iii,  iv,     v 

Paraguay: — 

Area 34 

Budget 35 

Currency 34 

Foreign  trade — Imports  and  Exports 35 

Exports 35 

Imports 35 


55 


Population 34 

Public  debt 34 

Railways .' 35,  36 

Peru:— 

Area 37 

Budget „ 38 

Currency 37 

Foreign  trade — Imports  and  Exports 38 

Exports 41 

Imports 39,  40 

Population 37 

Public  debt 37,  38 

Railways 41 

Uruguay : — 

Area 42 

Budget 42 

Currency 42 

Foreign  trade — Imports  and  Exports 43 

Exports 44 

Imports 43 

Population 42 

Public  debt 42 

Railways 44,  45 

Venezuela : — 

Area 46 

Budget 46 

Currency 46 

Foreign  trade — Imports  and  Exports 47 

Exports 48 

Imports 47,  48 

Population 46 

Public  debt 46 

Railways    49 


^3139822)476 


General  Library 

University  of  Caliform 

Berkeley 


U.C.  BERKELEY  LIBRARIES 


